Benchmark indices rallied sharply in trade today, led by solid gains in Infosys, which surged almost 10 per cent in trade.
The Nifty ended the day higher by 122 points to end the day at 10,739 points. The Nifty IT index touched a new record high of 17,491.15 during the day. Most of the IT stocks have now gained in nine out of the last ten trading sessions.
Infosys shares ended the day higher by almost 10 per cent. It was a day of performance for the banking sector, after severe underperformance in the last few trading sessions with the bank index managing to end the day higher. Federal Bank, IndusInd Bank, Axis Bank and HDFC Bank were among the winners from the Bank Nifty stocks.
Among the Nifty stocks that lost ground in trade were Bharti Infratel, Tech Mahindra, ITC, IOC and Zee Entertainment. Shares in L&T Finance Holdings dropped sharply ahead of the company's first quarter earnings to be announced later today. The stock fell below the Rs 60 levels mark and was trading at a 1-month low.
Shares in Avenue Supermarkets, which runs the retail chain D-Mart fell as much as 6 per cent and was the worst performing stock from the Nifty.