Markets moved higher due to short covering and rally in Larsen & Tourbo, boosted by brokerages upgrades after the engineering conglomerate reported a 17% jump in the net quarterly net profit.
The Nifty index opened in the green, tracking positive Asian peers and crept higher led by gains in frontline stocks Larsen & Tourbo, HDFC, ICICI Bank and HDFC Bank. The index touched a high of 5517 in the afternoon trades, but profit booking seeped in during the last leg of the day after FMCG major ITC reported flattish quarterly earnings. The S&P CNX Nifty closed up 58 points, at 5,486 and the benchmark Sensex ended up 185 points, at 18,326.
The Nifty index opened in the green, tracking positive Asian peers and crept higher led by gains in frontline stocks Larsen & Tourbo, HDFC, ICICI Bank and HDFC Bank. The index touched a high of 5517 in the afternoon trades, but profit booking seeped in during the last leg of the day after FMCG major ITC reported flattish quarterly earnings. The S&P CNX Nifty closed up 58 points, at 5,486 and the benchmark Sensex ended up 185 points, at 18,326.
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