India shares post first gain in four days as Infosys, ITC rebound

At 9.43 am, Sensex was trading at 29,646.51 up by 70.77 points or 0.24%, while Nifty 50 was trading at 9,192.75 higher by 11.30 points or 0.12%.

The BSE benchmark Sensex recovered 213 points on Tuesday as fresh buying by investors led to widespread gains ahead of the earnings season.

Elsewhere in Asia, China's Shanghai Composite index rose 0.6% while South Korea's Kospi index declined 0.4%. "The rupee reversing some of its losses and approaching Infosys Q4 results propped up IT stocks. Banks continue to look forward to NPA resolution measures shortly, and the strength was visible today", James said.

Sector-wise, the S&P BSE capital goods index surged by 255.25 points, the banking index rose by 242.29 points, and the fast moving consumer goods index edged higher by 143.69 points.

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Meanwhile, the foreign funds sold net Rs. 716.19 crore yesterday, as per provisional figures.

Stock brokers said optimistic buying ahead of industrial production (IIP) data for February and retail inflation for March tomorrow halted the three-session falling streak.

Top gainers in the Sensex-30 pack: ITC (up 3.2 per cent), Power Grid (up 2.2 per cent), ICICI Bank (up 1.9 per cent), L&T (up 1.8 per cent) and SBI (up 1.6 per cent).

Major gainers were ITC 1.74 per cent, Infosys 1.48 per cent, HDFC 1.16 per cent, Wipro 1.05 per cent and ICICI Bank 0.94 per cent.

  • Rita Burton