Sensex Up By 90 Points at 31861, Nifty Reclaims 9900 Mark

Sensex Up By 90 Points at 31861, Nifty Reclaims 9900 Mark

Infosys rose 4.5% to close at 1,021.15 rupees. Infosys, HDFC, and Vedanta were the top gainers on both indices, while Bajaj Auto, HUL, Power Grid and Zee Entertainment lost the most.

Indian equity markets edged higher on Thursday as tensions between the United States and North Korea eased and optimism flow on the back of Infosys share repurchase, as the IT company said it will consider a proposal for buyback of equity shares later this week.

Infosys drove gains in the Nifty IT index, which climbed as much as 1.4% in its biggest intraday percentage gain in almost a month. During the afternoon trade, Information Technology (IT) stocks increased helping the BSE to jumps by 2.08%.

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The Sensex has so far touched a high of 31,937.51 points and a low of 31,714.10 points during the intra-day trade. The Nifty FMCG index was trading 0.3% higher after rising 2.5% in the previous session. The 31-scrip index was trading at 31,837.21 up 67 points or 0.21%, while the 51-scrip index surged by almost 28 points or 0.28% trading at 9,924.80.

At 1.15 p.m., the 30-share BSE index Sensex was up 115.83 points or 0.36 per cent at 31,886.72 and the 50-share NSE index Nifty was up 40.95 points or 0.41 per cent at 9,938.25. As per reports by PTI, sectoral indices, led by metal, IT, realty, teck, consumer durables and oil & gas were trading in the positive zone, with gains up to 1.62 per cent. To accelerate strategic disinvestments in central public sector enterprises (CPSEs), the cabinet committee on economic affairs (CCEA) mandated a panel headed by finance minister Arun Jaitley to oversee the asset sale process, Mint reported.

■ 9.40am: Coal India Ltd rose 2.4% to Rs242.65 after a huge block deal. However, details of the buyers and sellers were not known. Sensex was up by 74 points or 0.23% at 31,844 while the wider NSE Nifty was up by 48 points or 0.49% at 9,945.55 after the key indices logged their biggest gain since July 10 on Wednesday. "The opportunity from recent correction and the announcement of share buyback from IT major supported sentiment", said Vinod Nair, Head of Research, Geojit Financial Services.