Indian Markets snapped 2-day losing streak - LuvKush Finserve

Markets snapped two-day losing streak and ended higher on Thursday as investors bought technology shares amid hopes of improvement in quarterly profits as rupee weakened. The rupee lost some ground against the dollar amid dollar purchase by banks. The currency is currently trading at Rs 60.24 compared with previous close of Rs 60.22. It touched a high of Rs 59.90 intra-day per dollar. The Sensex closed up 233.08 points at 19,410.84 and the Nifty gained 66.05 points at 5,836.95 levels.

IT, FMCG, realty, healthcare and technology index gained while metal sector dropped on the BSE. The gainers included counters such as ITC rising 3.6%, Tata Power gaining 3.7%, TCS added 3.2%, HUL rose 2.7% while Tata Motors was up 3% on the BSE.

The laggards were BHEL shedding 1.7%, Sterlite Industries dropped 1.3%, Tata Steel declined 1.6% each while Bajaj Auto was down 1% on the BSE.

Shares of information technology (IT) companies are in limelight on the bourses gaining up to 4% on the bourses as a weakening rupee against the US dollar boosts sales of software firms in rupee terms. The broader markets ended higher with mid-caps and small-caps gaining 0.3-0.6 per cent on the BSE.

Source : Equity Bulls

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