Sensex, Nifty End Higher As Infosys Powers Tech Rally – BloombergQuint

Indian equity benchmarks ended higher led by the rally in Infosys Ltd.

The S&P BSE Sensex closed 161 points or 0.48 percent higher at 38,896.71 and the NSE Nifty 50 ended at 11,588.35, up 0.31 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.12 percent higher.

Infosys was the top gainer in the benchmark indices. This after it raised its revenue forecast for the full year even as higher costs led to a contraction in margin and decline in profit during June quarter. The Bengaluru-based software developer clocked its biggest jump in four year to close at record high.

The market breadth, however, was tilted in favour of sellers. About 1,193 stocks declined and 585 shares advanced on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by National Stock Exchange ended lower, led by the NSE Nifty PSU Bank Index’s 2.52 percent fall. On the flipside, the NSE Nifty IT Index as the top sectoral gainer, up 2.76 percent.


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