Indian equity benchmarks ended Tuesday’s topsy-turvy session on a strong note, reports NDTV Online.
Gains in the S&P BSE Sensex and NSE Nifty 50 Indexes were paced by Yes Bank, ICICI Bank, Tata Motors, Bajaj Auto, Coal India and HCL Technologies.
The benchmarks opened with minor losses and swung at least seven times between gains and losses before falling in the negative territory around 11:00 am.
However, buying in last hour of trade in banking, auto and information technology shares took the Sensex and Nifty to intraday high levels.
The Sensex ended 0.62 per cent or 239 points higher at 38,939 and the NSE Nifty 50 Index climbed 0.58 per cent or 67 points to shut shop at 11,672.
The immediate resistance for Nifty is now placed in the zone of 11,650-11,710 levels, Sameet Chavan, chief analyst-technical and derivatives at Angel Broking said.
"At this juncture, the ideal strategy would be not to trade aggressively and one needs to be extremely stock specific when it comes to a momentum trade," he added.
Seventeen of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Realty Index's 1.4 per cent gain. Auto, Banking, Metal, Oil & Gas, Healthcare and FMCG Indexes also rose between 0.6 and 1.1 per cent each.
On the other hand, S&P BSE Telecom Index was top loser, down 0.8 per cent.
Mid- and small-cap shares underperformed their larger peers as the S&P BSE MidCap Index rose 0.15 per cent while the S&P BSE SmallCap Index declined 0.10 per cent.
Yes Bank, Wipro, Tata Motors, Coal India, ICICI Bank, Bajaj Auto, Indian Oil, HCL Technologies and Vedanta were among the gainers in the Nifty 50 basket of shares.
On the flipside, Indiabulls Housing Finance, Asian Paints, Bharti Airtel, Infosys, UPL, Bajaj Finance and Dr Reddy's Labs were among the laggards.
