Indian Shares End Off Day's Highs; IT Stocks Rally On Infosys Results
(RTTNews) - Indian shares ended modestly higher on Friday after paring early gains.
Underlying sentiment was buoyed by firm global cues, falling oil prices on easing Iran-U.S. tensions, and a big win for BJP-led Mahayuti alliance in Maharashtra civic body elections across 29 municipal corporations. IT stocks topped the gainers list after Infosys delivered stronger-than-expected quarterly results and raised its full-year revenue growth guidance.
Banks also gained ground, but pharma and consumer durables shares fell, helping limit overall gains.
The benchmark BSE Sensex rose to an intraday high of 84,134.97 before paring gains to end the session up 187.64 points, or 0.23 percent, at 83,570.35.
The broader NSE Nifty index closed up 28.75 points, or 0.11 percent, at 25,694.35 after having hit a high of 25,873.50 earlier.
The BSE mid-cap index edged up by 0.2 percent while the small-cap index fell around half a percent.
The market breadth was weak on the BSE, with 2,360 shares falling while 1,873 shares advanced and 161 shares closed unchanged.
Infosys surged 5.7 percent while peers Tech Mahindra and HCL Technologies rallied 5.2 percent and 1.8 percent, respectively.
Among other prominent gainers, UltraTech Cement and SBI both rose around 1 percent. On the flip side, Eternal sank 3.9 percent, while ITC, Maruti Suzuki India, Sun Pharma, BEL and Asian Paints all fell around 2 percent.
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