Indices end higher for third straight session, Nifty above 10700

Indices end higher for third straight session, Nifty above 10700
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Mumbai, Nov 28: It’s another positive close for the market, making it third consecutive session of gains. The Nifty ended above 10,700-mark.
A surge in IT names along with rally in select index heavyweights boosted the market.
Stability in crude oil prices, which resulted in the rupee recovery, increase in FIIs buying and hope of trade talks meeting between US & China boosted market sentiment. Likely status quo by RBI in its December policy after stable retail inflation, and PSU banks recapitalisation also aided the rally
Among sectors, IT and energy were the top gainers, while auto, consumption, infra, and metals ended in the red. The Nifty Midcap index, too, closed with cuts of a percent.
At the close of market hours, the Sensex closed up 203.81 points or 0.57% at 35716.95, while the Nifty shut down lower by 36.20 points or 0.34% at 10721.80. The market breadth was negative as 996 shares have, against a decline of 1,576 shares, while 157 shares were unchanged.
TCS and Infosys were the top gainers, while Yes Bank, Bharti Airtel, and BPCL lost the most.
Stocks in News
Shares of Mphasis gained 5 percent as company will buy back equity shares worth of Rs 988.27 crore.
Share price of pharma major Lupin rose 2 percent even as its CFO resigned.
Share price of Inox Wind rose nearly 3 percent as company signed an exclusive agreement with AMSC to launch the 3 MW wind turbine which is especially suitable for low wind regimes in India.
Shares of RBL Bank shed nearly 5.5 percent after Kotak Institutional Equities has downgraded the stock to sell from add rating.
AXISCADES Engineering Technologies shares gained 6 percent Wednesday after company subsidiary wins two contracts.
Majesco shares gained a percent after its US subsidiary acquired Ireland-based company that provides cloud software services.
Yes Bank shares dropped 12 percent after Moody’s Investors Service downgraded lender’s foreign currency issuer ratings with negative outlook.
Capacit’e Infraprojects shares gained 2 percent after the company won order worth Rs 335 crore from BSNL.
Orient Electric shares gained 2 percent after signing strategic partnership with Italy-based company.
Global Markets
European stocks were higher as investors looked to read into talks between US and China to address trade war concerns. Stoxx 600 edged up around 0.25 percent.
Asia markets were higher after a cautious start as traders eyed cues from US-China meetings. The Shanghai composite rose 1.05 percent to 2,601.73 while the Shenzhen composite advanced 1.399 percent to 1,355.38.