Sensex, Nifty End Higher Led By IT Stocks
(RTTNews) - Indian shares ended modestly higher on Tuesday, tracking mostly positive cues from global markets as weakening labor market data and pressure from the Trump administration bolstered the case for a jumbo rate cut at the U.S. Federal Reserve's upcoming FOMC meeting on September 16-17.
The dollar and U.S. bond yields dipped as investors braced for key U.S. inflation data as well as U.S. data revisions that could point to a worse-than-expected jobs market and shore up the case for a larger-than-expected Federal Reserve interest rate cut.
IT stocks were in the spotlight after Infosys said its board would meet on Thursday, September 11, to consider a share buyback proposal.
The benchmark BSE Sensex edged up by 314.02 points, or 0.39 percent, to 81,101.32 while the broader NSE Nifty index closed up 95.45 points, or 0.39 percent, at 24,868.60.
The BSE mid-cap and small-cap indexes both ended up around 0.2 percent.
The market breadth was weak on the BSE, with 2,125 shares falling while 1,995 shares advanced and 161 shares closed unchanged.
Among the top gainers, Infosys jumped nearly 5 percent and Tech Mahindra rallied 2.4 percent while Sun Pharma, Bajaj FinServ, TCS, HCL Technologies and Adani Ports gained 1-2 percent.
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