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Sensex Closes Above 28,000 Points As IT Stocks Rally


The Sensex closed with smart gains above the 28,000 points mark as buying in IT stocks fuelled a fresh rally on the bourses.

The Nifty ended the day with gains of 69 points, while the Sensex rallied 265 points in trade.

Leading the set of gainers were IT majors Infosys, TCS and Wipro. Select foreign brokerages continue to be bullish on the IT space which fuelled sustained buying.

Sensex Closes Above 28,000 Points As IT Stocks Rally
Banking stocks were subdued in trade with stocks like IndusInd Bank, ICICI Bank and Axis all ending the day flat.

Shares in DCB, which reported a weakish set of results ended the day sharply lower after its asset quality deteriorated. The stock lost almost 7 per cent in two trading sessions.

Top losers from the Nifty in trade were Jindal Steel, Bank of Baroda and Punjab National Bank.

SUN TV also lost heavy ground after reports that the company may not be permitted to participate in the recent radio auctions as the license renewal for its TV channels remains an issue with the Ministry of Home Affairs.

Yes Bank also had a weakish session in trade with the stock ending down almost one per cent.

Meanwhile, markets across Europe were trading marginally lower, while gains were seen across most Asian markets today.

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