Epic Update Infosys The market gained strength again in noon trade, with the Nifty climbing back above 8750 level, driven by index heavyweights Infosys and Reliance Industries.
The 30-share BSE Sensex rose 115.72 points to 28271.28 and the 50-share NSE Nifty gained 43.10 points at 8767.80.
The broader markets extended gains, with the BSE Midcap index rising nearly a percent on strong breadth. About two shares gained for every share falling on the exchange.
Infosys continued to be leading contributor to Sensex’s gains, up more than 2 percent on hopes that the management might consider share buyback. Hopes raised after its peer TCS announced that its board of directors will consider share buyback on February 28. The stock was up 1.4 percent.
Sun Pharma was biggest gainer among Sensex stocks, up 3 percent after a media report indicated that the company is planning to shift production of key products from its Halol, Gujarat factory to other plants.
State Bank of India, State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Travancore retained their upside in noon, up 1-4 percent after Cabinet has approved merger plan.
Auto stocks rebounded after recent selling pressure. Tata Motors gained 1.4 percent and Maruti Suzuki rose 1.9 percent on short covering.
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