Banks boost Sensex, Nifty; IT stocks cap gains
In the 30-pack Sensex, stocks belonging to the IT sector were the top Sensex drags.
BSE benchmark Sensex settled at 37,145, up 164 points or 0.44 per cent while NSE Nifty ended 57 points or 0.52 per cent higher at 11,003.
European markets opened higher after data showed a surprise rise in German exports and on expectations of stimulus by European Central Bank later this week. The pan-European STOXX 600 index was up 0.1 per cent.
The BSE advance-decline ratio stood at 5:3, meaning a rise in every five stocks was followed by a fall in three stocks.
In the 30-pack Sensex, stocks belonging to the IT sector, namely HCL Tech, Infosys and TCS were the top Sensex drags.
HCL Tech shares declined the most, down 1.50 per cent. Infosys, Bajaj Auto, Tata Steel and Tech Mahindra were other losers.
YES Bank, on the other hand, was the best performing Sensex stock, rising as much as 4.22 per cent.
Maruti Suzuki, L&T, Bharti Airtel, Kotak Mahindra Bank and Bajaj Finance were among other stocks that formed the gainer pack among Sensex stocks.
Among the main board stocks, shares of Equitas Holdings fell 6.55 per cent after the RBI barred the company's wholly-owned subsidiary Equitas Small Finance Bank from opening new branches.
Shares of Ashok Leyland ended 1.56 per cent lower after the company announced non-working days at its various manufacturing facilities following weak demand. Chennai-based heavy commercial vehicle major has announced 16 days non-working days for its facility in Ennore, five days at Hosur (Tamil Nadu) unit, 10 days each in Alwar (Rajasthan) and Bhandara (Maharashtra) unit and 18 days in Pantnagar (Uttarakhand) facilities.
Midcap and smallcap indices outperformed benchmark Sensex. The BSE Midcap index rose 0.97 per cent while BSE Smallcap index 0.92 per cent.
Telecom and Capital Goods indices with gains of 1.75 per cent and 1.74 per cent, respectively were the top sectoral performers. Consumer Durables and Industrials too gained over 1 per cent.
IT and teck were the only sectors that ended in the red, down 0.81 per cent and 0.53 per cent, respectively.