Nifty Ends Higher, Infosys Surges 7 Per cent

Benchmark indices ended the day sharply higher, led by a solid 7 per cent rally in the stock of Infosys. Global markets too were higher, following a strong closing across the US markets. The Nifty ended the day higher by 94 points at 10,383 points. Shares in GAIL closed with gains after the company reported good quarterly numbers that surprised the markets.

Kajaria Ceramics saw its stock end the day flat even as net profits fell 27.1% YoY at Rs 48.8 crore versus Rs 66.9 crore.

Shares in Sumitomo Chemical India Plunged almost 5 per cent after Sumitomo Chemical Company Ltd (the Promoters of the Company) said that it proposes to sell up to 49,91,457 (forty nine lakh ninety one thousand four hundred and fifty seven) Equity Shares (representing approximately 1% (one percent) of the total issued and paid up equity share capital of Sumitomo Chemical India Ltd .

Nifty stocks that ended with gains apart from Infosys, were some of the oil marketing company stocks like IOC and BPCL. Banking stocks were weak in trade today, with losers being Kotak Mahindra Bank and ICICI Bank. The Bank Nifty ended the day marginally higher, despite a near 1 per cent rally in the Nifty.