Sensex, Nifty Up Firmly As Tech, Metal Stocks Rally

(RTTNews) - Key Indian stock indexes Sensex and the Nifty50 remain firmly placed in positive territory Monday afternoon, holding their early gains intact thanks to sustained buying at several counters, amid rising optimism about more monetary easing by the Federal Reserve, and reacting to some encouraging corporate news.

Technology, metal and chemicals stocks are among the prominent gainers.

The Sensex, which opened at 85,145.90 was up 537.30 points or 0.63% at 85466.66 a little while ago, while National Stock Exchange's 50 stock Nifty index was up 183.45 points or 0.7% at 26,149.85.

IT major Infosys is up nearly 3%. Infosys ADRs hit a 52-week high of USD 30 on Friday after rallying 40%, triggering two trading halts as extreme volatility disrupted the session.

Infosys has also informed the stock exchanges that a US court granted final approval to the McCamish settlement. The matter relates to certain class action lawsuits filed in the United States. Infosys had earlier reached an agreement in principle with the plaintiffs in lawsuits pending against Infosys McCamish Systems LLC and some of McCamish's customers.

Bharti Airtel and Trent are gaining 2.6% and 2.5%, respectivley. Tech Mahindra and Tata Motors Passenger Vehicles are gaining nearly 2% over their previous closing levels.

HCL Technologies is up nearly 1.5%, while ICICI Bank, Tata Consultancy Services, Sun Pharmaceutical Industries and BEL are up 1 to 1.2%.

Wipro is rising nearly 3%. Hindalco, Tech Maindra, JSW Steel and Adani Enterprises are up 1 to 2.3%.

State Bank of India is down 0.6%. Kotak Bank, Asian Paints, Axis Bank, Bajaj Finance and M&M are down marginally.

Nalco, Hind Zinc, NMDC, Vedanta, Sail and Welcorp are among the other notable gainers in the metal sectors, besides Nalco, Tata Steel and JSW Steel.

In Chemicals & Fertilizers section, Solar Industries, Chambal Fertilizers, UPL, Deepak Fertilizers, Sumi Chemicals, Bayer, Aarti Industries and Tata Chemicals are up with strong gains.

Indraprastha Gas is up 1% after the company entered into a joint venture agreement with Hindustan Waste Treatment for setting up compressed biogas plant and biofuel projects.

Fortis Healthcare's subsidiary International Hospital has signed definitive agreements to acquire the 125-bedded People Tree Hospital in Yashwantpur, Bengaluru, via 100% acquisition of TMI Healthcare for Rs 430 crore. Fortis Healthcare stock is up 2.3%.