Sensex Gives Up Gains, But Stays Positive For 3rd Day

Sensex posts biggest single-day gain in over one month

The Nifty PSU Bank index, which has lost almost 9 percent since India's central bank announced its decision to cut repo rate, gained as much as 1.08 percent.

At 2.15 PM: Benchmark BSE Sensex was up by 62 points or 0.20% to trade at 31,833.23 whereas the wider NSE Nifty was up by 28 points at 9,925.80.

The Sensex is trading at 31,513.07 points up by 64.04 points or 0.20 percent.

Among BSE sectoral indices, IT index was the star-performer and was up 2.12 per cent, followed by TECk 2.07 per cent, metal 1.45 per cent and realty 1.23 per cent.

Indian shares ended lower on Friday, after jumping to record highs twice this week, as investors turned cautious ahead of inflation data and booked profits. This movement led to erasing nearly all of its gains by the indices, which were trading with gains of over 100 points on the Sensex, and the Nifty placed comfortably above 9900-mark.

Shares of Infosys, India's No. 2 software services exporter, rose as much as 3.6 percent after the company said on Wednesday its board would consider a proposal to buy back shares at a meeting later this month.

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Among stock-specific action, Infosys ended 5 percent higher as the company said it will consider buyback of shares. The IT major- Infosys shares were up over 3% in afternoon trade.

"Markets rallied sharply higher on Wednesday after a weak opening to close with gains for the second consecutive session".

Global leads were not too supportive as Asian shares remained indecisive and European stocks opened lower despite easing tensions involving North Korea. At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,897.30 points, was quoting at 9,924.60 points, up by 27.30 points or 0.28 per cent.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,919.17 points, traded at 31,834.45 points - up 63.56 points, or 0.20 per cent, from its previous close at 31,770.89 points.

The index was up by 77.82 points or 0.24% up at 31848.71.

Other gainers on BSE Sensex includes Reliance Industries (up 1.5%), Bharti Airtel (up 1.49%), Dr Reddy's Laboratories (up 1.04%), Tata Steel (up 0.71%) and ICICI Bank (up 0.48%).

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