Sensex ends above 49,550, Nifty is approaching 14,600; IndusInd Bank, Top Gainers TCS

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UPL, IndusInd Bank and TCS gained 2.9-3.6% each on BSE’s top winners list

The BSE Sensex and NSE Nifty indices finished slightly in the green as markets consolidated for the second session in a row after hitting lifetime highs on Wednesday morning. The strength of index heavyweights such as IndusInd Bank, TCS, ITC and Reliance Industries was offset by weakness in some IT counters, the publication of quarterly results from Infosys and Wipro.

BSE Sensex recovered 400 points from intraday lows to end the session at 49,584.16, up 91.84 points or 0.19% and NSE Nifty finished at 14,595.60, up 30.75 points or 0.21%.

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Reflecting the move from the previous session, the BSE Sensex was hovering in a range of 479 points between an intra-day high of 49,663.58 and a low of 49,182.32 during the day.

Meanwhile, inflation based on wholesale prices slowed to 1.22% in December on the back of lower food prices, according to government data released Thursday. Inflation based on the Wholesale Price Index (WPI) was 1.55% in November 2020 and 2.76% in December 2019.

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UPL, IndusInd Bank and TCS gained 2.9-3.6 percent each to top the list of winners on BSE. Bellweather-like index stocks such as L&T, Reliance Industries and Hindustan Unilever were the other big gains among BSE stocks.

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On the other hand, some information technology stocks ended in the red, although out of the lows of the day, display the results announcements of Infosys and Wipro. HCL Tech, which is due to release its December quarter figures on Friday, lost 2.6% to Rs 1,028 on BSE, while Infosys and Wipro lost around 1% each after their third quarter figures. Infosys had corrected by more than 5% and Wipro had reduced by more than 6% at the start of the session.

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The scope of the BSE market was almost equal. Out of 3,183 shares traded on the ESB, 1,501 shares rose against 1509 declines.

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