India's stock markets rose on Wednesday, marking their highest close in nearly two weeks, led by gains in software exporters such as Infosys Ltd, as investors seeking bargains bought into beaten down stocks.
The BSE Sensex ended up 0.54 per cent, while the Nifty rose 0.6 per cent, marking their highest close since July 23.
For the month, the BSE index gained 1.20 per cent, while the NSE index added 1.96 per cent.
Meanwhile, have a look at stocks that performed well and those who declined.
Sectors and Stocks
All sectoral indices on the BSE were trading in the green led by the Metal index up 1.7% followed by IT and Realty among others.
Bharti Airtel was the top gainer up 3% after the company reported a 40.2 per cent jump in net profit for the quarter ended June at Rs 1,554 crore.
Strong data growth —both in India and Africa —is a key highlight of the quarter.
During the quarter, mobile data revenues (consolidated) grew 57 per cent year-on-year to Rs 3,459 crore, as data traffic rose by 86.5 per cent.
Mobile data revenues now account for 14.6 per cent of the total revenues compared to 9.6 per cent in the corresponding quarter last year.
IT stocks gained momentum on the back of a weakening rupee. Infosys, Wipro and TCS were up 0.6-1.4% each. HDFC was up 1%.
The company plans to raise roughly Rs 5,000 crore through a structured quasi-debt offer to domestic institutions soon.
Bank shares staged a recovery after the correction in the previous session post the neutral stance on key rates by the RBI. ICICI Bank, SBI and Axis Bank were up 0.5-1.2% each.
Other Sensex gainers include, Lupin and Reliance Industries.
Global markets
Asian markets are trading mixed mood on Wednesday as the mounting risks of a hike in US interest rates as early as next month lifted the dollar and bond yields, pressuring currencies across the region.
Losses on Wall Street had been modest with the Dow .DJI ending 0.27% lower while the S&P 500 eased 0.22% and the Nasdaq lost 0.19%.
