NIFTY50 and SENSEX rally for sixth consecutive session; 95 stocks hit upper circuit; check details

Domestic equity markets were trading marginally higher in late morning deals on account of buying in IT industry related stocks, namely HCL Technologies, Tech Mahindra, Infosys and TCS. Positive cues from the global markets supported domestic sentiments.

Support also came as Finance Minister Nirmala Sitharaman said that India plans to increase the share of the manufacturing sector from 12% to 23% over the next two decades, aiming to create jobs and drive economic growth. Further, there was some encouragement in markets as the HSBC flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 60.0, up from 59.5 in March, the strongest pace of combined manufacturing and services growth since August.

On the global front, Asian markets were trading higher on optimism that U.S.-China trade tensions could ease. U.S. President Donald Trump indicated that tariffs on Chinese imports would decrease significantly following a deal, though not to zero. Back home, on the BSE sectoral front, traders were seen piling up positions in IT, TECK, Realty, Auto and Capital Goods, while selling was witnessed in Consumer Durables, Bankex, Oil & Gas, PSU and Telecom.

The SENSEX is currently trading at 79729.62, up by 134.03 points or 0.17% after trading in a range of 79506.90 and 80254.55. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index was up by 0.18%, while Small cap index down by 0.34%.

The top gaining sectoral indices on the BSE were IT up by 3.95%, TECK up by 2.51%, Realty up by 1.25%, Auto up by 1.01% and Capital Goods up by 0.25%, while Consumer Durables down by 1.31%, Bankex down by 0.95%, Oil & Gas down by 0.86%, PSU down by 0.71% and Telecom down by 0.58% were the losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 7.71%, Tech Mahindra up by 4.53%, Infosys up by 4.12%, Tata Motors up by 2.54% and TCS up by 2.28%. On the flip side, HDFC Bank down by 1.59%, Axis Bank down by 1.54%, Kotak Mahindra Bank down by 0.92%, ITC down by 0.88% and Power Grid down by 0.80% were the top losers.

The NIFTY50 is currently trading at 24195.95, up by 28.70 points or 0.12% after trading in a range of 24119.95 and 24359.30. There were 24 stocks advancing against 26 stocks declining on the index.

Here are the top five stocks that hit the upper circuit

Apart from that stocks like JNK India, Oriana, KK Jewels,Black Box, Khsitij Poly and more were locked in the upper circuit on Wednesday.