Sensex, Nifty trade with decent gains; IT shares rally for 3rd day in a row

The headline equity benchmarks traded with modest gains in morning trade. The Nifty traded above the 25,400 level. IT stocks extended gains for the third consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, jumped 330.46 points or 0.42% to 83,041.13. The Nifty 50 index rose 88.15 points or 0.35% to 25,418.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.30% and the S&P BSE Small-Cap index added 0.18%.

The market breadth was strong. On the BSE, 2,324 shares rose and 1,410 shares fell. A total of 206 shares were unchanged.

Buzzing Index:

The Nifty IT index rose 0.98% to 36,804.75. The index extended its winning streak to a third consecutive session, gaining 2.51%.

LTIMindtree (up 2.53%), Wipro (up 1.68%), Infosys (up 1.5%), Coforge (up 1.29%), HCL Technologies (up 1.25%), Mphasis (up 1.22%), Tata Consultancy Services (up 0.45%), Persistent Systems (up 0.44%), Tech Mahindra (up 0.41%) and Oracle Financial Services Software (up 0.09%) added.

Stocks in Spotlight:

Colab Platforms locked in the upper circuit of 2% after the company has signed a non-binding Memorandum of Understanding (MoU) with RRP Drones Innovation to collaborate on developing autonomous AI-powered aerial surveillance drones.

Avantel added 2.06% after the company announced that it has received a purchase order worth Rs 12.51 crore for the supply of Satcom products from Bharat Electronics (BEL).

Cochin Shipyard rose 0.55%. The company announced that it has secured an order worth Rs 200 crore from Oil and Natural Gas Corporation (ONGC) for dry dock or major lay-up repairs of jack-up rigs.

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