Sensex adds 163 pts; IT stocks advance

The key equity barometers traded with minor gains in mid-afternoon trade. The Nifty traded above the 21,300 level. IT shares edged higher for the second consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 162.87 points or 0.23% to 71,027.97. The Nifty 50 index added 54.35 points or 0.26% to 21,309.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.50% and the S&P BSE Small-Cap index gained 0.72%.

The market breadth was positive. On the BSE, 2,313 shares rose and 1,408 shares fell. A total of 129 shares were unchanged.

Buzzing Index:

The Nifty IT index gained 1.56% to 35,389.05. The index added 1.87% in two trading sessions.

Wipro (up 4.25%), Persistent Systems (up 2.28%), HCL Technologies (up 1.46%), Coforge (up 1.39%), Mphasis (up 1.02%), LTIMindtree (up 0.92%), L&T Technology Services (up 0.69%), Infosys (up 0.64%), Tata Consultancy Services (up 0.21%) and Tech Mahindra (up 0.14%) advanced.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose 0.13% to 7.192 as compared with previous close 7.184.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.1775, compared with its close of 83.2775 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement gained 0.47% to Rs 62,795.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.08% to 101.77.

The United States 10-year bond yield slipped 0.62% to 3.872.

In the commodities market, Brent crude for February 2024 settlement rose 69 cents or 0.87 to $80.08 a barrel.

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