Indian shares ended higher today, driven by strong gains in banking stocks. Auto, energy, metal and FMCG stocks also contributed to gains. The Sensex ended 291 points higher at 38,506 while Nifty settled 0.80% higher at 11,428.
Banking sector index, Nifty Bank, rose 1.3%, with HDFC Bank, IndusInd Bank and Kotak Bank advancing between 1.5% and 2%.
Consumer stocks led gains after sector heavyweight Hindustan Unilever’s (HUL) September-quarter earnings beat expectations, despite the company flagging near-term woes in the rural market. HUL shares ended with over 2% gain.
Vedanta was the top gainer among the Sensex pack, rising 4%. Other top gainers included Maruti, Hero MotoCorp, M&M, and ONGC, up between 2% and 3%.
Among losers, Infosys continued to fall for a second session and shed 2.6% after its September-quarter earnings underscored the spending squeeze among Western clients for the company and the country’s $180 billion information technology sector at large. (With Agency Inputs)
news Source:- livemint