Sensex, Nifty end higher; Infosys rallies 4 per cent

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Sensex, Nifty end higher; Infosys rallies 4 per cent
The Sensex and the Nifty rallied in trade with sharp gains in heavyweight Infosys pushing benchmark indices higher. The Sensex ended the day with gains of 242 points, while the Nifty rallied 81 points in trade.

Apart from Infosys the other IT stocks that joined Infosys higher were Wipro and HCL Tech. Apart form IT stocks a number of other Nifty winners included those from the oil and gas space including the likes of Cairn India, Reliance Industries, ONGC and BPCL.

Shares in Bajaj Auto ended higher after the company reported good vehicle sales number for the month of July. However, Petronet LNG dipped after results of the company disappointed the street.

Shares in Syndicate Bank fell a huge 7 per cent following arrest of the Chairman of the bank over a bribery scandal. Andhra Bank also had a bad session in trade after the company's results came in weaker than expected.

Mid cap stocks moved in line with the benchmark indices and ended higher with notable gains seen in HPCL, Tata Chemicals and Bharat Forge.

HDFC Bank, HDFC and Sun Pharma were the select losers from the Sensex basket.

Meanwhile, markets in Europe were trading marginally higher led by gains in the German DAX and the UK's FTSE.

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