Amidst choppy trade, the Indian equities ended higher, helped by sustained buying by funds and retail investors as better-than-expected earnings by Indian Inc influenced sentiment. The market sentiment also got a boost from strong gains in blue-chip capital goods, consumer durbales, pharma and banking stocks.
The BSE SENSEX closed at 28298.13, up by 75.05 points or by 0.27 per cent and the NSE Nifty ended 20.7 points higher at 8588.65.
On the corporate front, L&T, Dr Reddy's Labs, Lupin, Tata Motors and SBI were leading the gainers list, while ITC, Coal India, Vedanta, Reliance and Wipro were losers in the Sensex. Pharma stocks remained in the limelight after positive comments from broker CLSA boosted investor sentiment.
In the choppy trade, the BSE Sensex touched intraday high of 28359.96 and intraday low of 28163.69, while the NSE Nifty touched intraday high and intraday low of 8606.3 and intraday low of 8551.5, respectively.
Outperforming the benchmark indices, the broader market also ended higher, with the BSE MIDCAP settling 41.12 points higher at 11585.58, while the BSE SMLCAP closed at 12121.68, down by 14.33 points or by 0.12 per cent.
Leading the rally on BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1827.30,+2.74%), Dr. Reddy's Laboratories Ltd. (Rs. 4270.10,+1.79%), Tata Motors Ltd. (Rs. 382.90,+1.63%), Lupin Ltd. (Rs. 1703.15,+1.37%), Tata Consultancy Services Ltd. (Rs. 2574.30,+1.28%), among others.
Meanwhile, ITC Ltd. (Rs. 326.05,-1.70%), Coal India Ltd. (Rs. 431.10,-1.59%), Reliance Industries Ltd. (Rs. 979.40,-0.84%), Vedanta Ltd. (Rs. 126.90,-0.78%), Wipro Ltd. (Rs. 571.00,-0.63%), were among notable losers on BSE.
On the sectoral front, consumer durables and capital goods indices emerged as top gainers, adding 1.91 and 1.68 per cent, respectively, on BSE.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2928, shares advanced were 1301 while 1519 shares declined and 108 were unchanged.
On the global front, the Asian equities ended mostly higher, with China"s Shanghai Composite and Nikkei 225 extended gain for second day, while Hang Seng settled in negative terrain. China"s Shanghai Composite extended two-day gain after the Services PMI rose to the highest level in 11 months at 53.8 in July from 51.8 in June. Japan"s Nikkei 225 posted handsome gains as a weaker yen boosted the lure for exporter stocks.