The S&P BSE Sensex and NSE Nifty 50 indexes edged higher in late noon deals led by gains in auto, FMCG and metal shares and recovery in Nifty Bank index which returned to gains from intraday low levels. For most part of the day, benchmarks traded in a choppy manner with a negative bias. However, late buying in banking shares reversed the trend for the benchmarks. The Sensex traded in a band of 449 points and Nifty 50 index touched record high of 13,982 and low of 13,864.95.
As of 2:13 pm, the Sensex was up 77 points at 47,690 and Nifty rose 21 points to 13,954.
Six of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Auto index’s 0.7 per cent gain. IT, FMCG, Financial Services and Metal stocks were also witnessing buying interest.
On the other hand, Pharma and PSU Banking shares were witnessing selling pressure.
Mid- and small-cap shares were trading on a mixed note as Nifty Midcap 100 index fell 0.22 per cent and Nifty Smallcap 100 index rose 0.3 per cent.
UPL was top Nifty gainer, the stock rose 3 per cent to Rs 468. Bajaj Finance, Eicher Motors, UltraTech Cement, Grasim Industries, Maruti Suzuki, Tech Mahindra and Shree Cement were also among the gainers.
On the flipside, IndusInd Bank, Sun Pharma, GAIL India, Axis Bank, Bharti Airtel, Indian Oil, Cipla, TCS, Power Grid and Britannia Industries were among the laggards.
The overall market breadth was neutral as 1,496 shares were advancing while 1,375 were declining on the BSE.