Indices hit fresh life high, Sensex spurts 842 pts, IT stocks in demand

The benchmark indices marched higher and hit a fresh intraday high in morning trade. The Nifty traded above the 21,150 mark. IT stocks rallied after declining in the past two trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 842.28 points or 1.21% to 70,426.88. The Nifty 50 index advanced 236 points or 1.13% to 21,162.35.

The Nifty 50 and S&P BSE Sensex hits an all-time high at 21,189.55 and 70,540 respectively in morning trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.71% and the S&P BSE Small-Cap index gained 0.81%.

The market breadth was strong. On the BSE, 2,252 shares rose and 1,195 shares fell. A total of 151 shares were unchanged.

Buzzing Index:

The Nifty IT index advanced 2.63% to 32,910.30. The index fell 1.34% in the past two trading sessions.

Mphasis (up 5.6%), Coforge (up 4.92%), Persistent Systems (up 3.25%), LTIMindtree (up 2.95%), HCL Technologies (up 2.81%), L&T Technology Services (up 2.76%), Tech Mahindra (up 2.63%), Wipro (up 2.45%), Infosys (up 2.24%) and Tata Consultancy Services (up 1.71%) jumped.

Stocks in Spotlight:

Uno Minda rose 0.74%. The company has commissioned its new automotive seating systems plant under its subsidiary Uno Minda TACHI-S Seating Private Limited (UMTS) in Bhagapura, Ahmedabad, Gujarat. The plant will manufacture mechanical parts for automotive seats for passenger cars. UMTS has already received orders from OEM and is expected to start supplies by Q4FY24.

I G Petrochemicals added 0.34%. IGPL Energy is incorporated as a wholly owned subsidiary of the company on 30 November 2023 with Jebel Ali Free Zone, Dubai.

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