Markets close in green: Stocks gain in a volatile trading session

The Sensex advanced 0.7 per cent to 30,602.61 at the 3:30 pm close in Mumbai, after swinging between a loss of as much as 1.2% and a gain of as much as 1.4%

Stocks rose in a volatile trading session, as investors mulled the outlook for company earnings after software services provider Wipro declined to provide guidance for the first time since 2009.

The Sensex advanced 0.7 per cent  to 30,602.61 at the 3:30 pm close in Mumbai, after swinging between a loss of as much as 1.2 per cent and a gain of as much as 1.4 per cent. The Nifty climbed 0.8 per cent, with about two stocks rising for each one that fell.

“People are asking if companies are going to survive for the next five years,” said Ashish Chaturmohta, a technicals and derivatives analyst at Sanctum Wealth Management. “If they think so, they are buying them now.” Wipro, which gets most of its sales abroad, refrained from giving an outlook until it has greater certainty, it said when reporting quarterly results after the market close on Wednesday.