NIFTY, SENSEX extend gains for second day in volatile session: Check top gainers and losers

Stock markets advanced for the second day on Tuesday with NIFTY closing above 25,000 level and SENSEX rising by 350 points in a volatile session.

After oscillating between gains and losses during the day, NIFTY closed higher by 117.25 points, or 0.47%, at 25,053.65, driven by gains in telecom IT and private banking stocks.

The index opened higher but slipped into the red in early trade due to mixed global cues. The key index staged a rebound in late-morning deals on the back of gains in media, telecom and IT shares. NIFTY gained around 0.7% to hit a high of 25,130.5 in intraday trade.

SENSEX gained 361.75 points, or 0.44%, in the closing session to settle at 81,921.29. The index opened higher at 81,768.72 but fell to a low of 81,445.30 in early trade. The index later recovered from lows and hit an intraday high of 82,196.55.

Buying in telecom, IT banks and power shares helped indices post gains for the second day in a row. However, losses in insurance, financial and auto shares restricted gains.

Global markets were mixed ahead of key US inflation data at the consumer and wholesale levels to be released later in the week.

Among major sectoral movers, NIFTY Media jumped 2.69% as Hathway, ZEEL Saregama and Nazara Tech shares rallied up to 5%. NIFTY IT advanced 1.73% on gains as all IT constituents such as TCS, Infosys, LTIM and Wipro advanced. NIFTY Pharma rose by 1.08 and Consumer Durables by 0.92%. NIFTY Financials, and Oil and Gas dropped.

Divis Labs, LTIMindtree, NTPC among top gainers

Divis Labs was the biggest NIFTY gainer increasing by 5.23% to settle at ₹5,444 apiece. Divis Labs surged by more than 5% to hit a 52-week high of ₹5,447.35 in intra-day trade after positive comments by experts on the stock.

LTIM rose by 3.02% to ₹6,332 apiece on the NSE following an uptick in IT shares after an earnings forecast from US-based AI major Nvidia.

NTPC also raised 2.39% to ₹399.15 after buying power sector shares.

Bharti Airtel gained 2.23 % to ₹1577.1 apiece after its financial services subsidiary Airtel Finance launched a fixed deposit scheme to attract funds. Wipro advanced 2.02% to ₹525.25 apiece on the NSE.

SBI Life, HDFC Life lead losers

Life insurance shares took a beating after the GST Council postponed a decision on tax rate cuts on insurance premiums.

HDFC dropped the most by 4.4% to ₹703.40 and SBI Life by 2.46% to ₹1,855 apiece on the NSE.

Bajaj Finserv dropped 1.75% and Bajaj Finance by 1.41% amid a stellar response to the IPO of group company Bajaj Housing Finance. Shriram Finance dropped 1.8% to ₹3,256.05 per share.