Nifty ends at new 30-month high

The bull-bear slugfest continued today but the bulls emerged triumphant after a fairly volatile session. The Indian market pulled off a late advance after stocks in Hong Kong and China rebounded even as European markets remained in red.



The BSE Sensex rose to the highest level since February 2008 while the NSE Nifty closed at a new 30-month high. The Mid-Cap stocks were subdued but the Small-Cap index advanced in line with the frontline peers.

After a lukewarm start and a rangebound movement for major part of the session it seemed like we were heading for another lackluster close. But accelerated buying in IT heavyweights likes Infosys, TCS and Wipro saw the benchmark indices end near day's low.

"The main indices were able to ward-off a potential sell-off largely due to sustained buying in Infosys, TCS, Wipro and HCL Tech. The IT pack was in demand after stellar results and revised annual guidance by Cognizant", says Amar Ambani, Vice President, Research, IIFL.

The Sensex rose 108 points to end at 18,223, while Nifty rose 32 points to end at 5,471.