Market Watch

Sensex gains for 2nd day, advances 90 points to end at 26,051.81; Tata Steel up 3.9 pct

23 November 2016 - 04:08 PM

Indian shares rose for a second straight session on Wednesday, the first back-to-back gains since the government's shock move to withdraw high-value banknotes from circulation, as Larsen & Toubro Ltd rallied on upbeat quarterly results while drug makers gained after the rupee weakened.
The 30-stock BSE index closed up 0.35 percent at 26,051.81, while the broader NSE index ended 0.39 percent higher at 8,033.30.
After consolidation, the NSE Nifty managed to hold 8000 level for the second consecutive session Wednesday ahead of expiry of November futures & options contracts tomorrow. The broader markets smartly outperformed benchmarks, rising more than 1.2 percent on value buying. Investors continued to accumulate quality stocks at reasonable valuations, though they are worried over quarterly earnings growth after currency demonetisation.