NIFTY50 and SENSEX close higher for second straight day; Tech stocks zoom lead by TCS; Stock Market LIVE Updates

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The NIFTY Midcap 100 index (+0.1%) closed higher today. Meanwhile, NIFTY Smallcap 100 Index (+0.6%) closed in the green today.

The BANK NIFTY (-0.08%) index closed marginally lower. Sell-off in HDFC Bank (-0.7%), Kotak Bank (-1.0%), Bandhan Bank (-3.3%) dragged down the index.

India’s benchmark indices – NIFTY50 (+0.2%) and Sensex (+0.2%) – closed higher. Out of the NIFTY50 universe, 23 stocks are advancing. Meanwhile, Adani Ports and L&T were the top gainers, while Britannia and Nestle India were the top losers. On the sectoral front, IT and Auto indices gained the most.

NIFTY IT index was amongst top gainers supported by gains in heavyweight stocks like TCS (+1.9%), Infosys (+1.2%), HCL Tech (+1.0%).

India’s benchmark indices NIFTY50 (+0.2%) and Sensex (+0.3%) are trading higher. Out of the NIFTY50 universe, 28 stocks are trading in green. NIFTY IT, Realty and Auto sector sees strong traction, rising in the range of 0.4 to 1.4%.

• Shares of Sula Vineyards rose over 14% intraday. This rise comes after media reports stated that the Maharashtra government plans to revive the wine industrial promotion scheme for five years, including refunding rebates to wineries that have paid 20% VAT for the past four years.

• As per experts, revival of this scheme and VAT rebates could benefit the Sula Vineyards in long run.

Source: BSE

Long build up: TCS, SBI Life, HUL, HCL Tech, Infosys Short build up: Nestle India, UPL, Cipla, Sun Pharma, Hindalco

• Kaveri Seed, a leading hybrid seeds manufacturer, has approved a share buyback of up to ₹ 325 crore via tender route at ₹725 per share. The company plans to buyback 8.01% of the total equity shares

• Following the announcement, company shares rose over 3% intraday.