The market rebounded despite weak opening amid stock specific action in key IT and banking counters lifting the benchmark index to close higher by 23.45 points at the National Stock Exchange (NSE) here today.
The momentum gathered with buying in IT counters sparked by yesterday's encouraging earning results from country's largest software exporters, Tata Consultancy Services (TCS) in its first quarter, the rally was also supported by banking stocks.
Meanwhile, recently gained energy, FMCG, infra, realty, metals and shares of mid-cap and small-cap companies witnessed profit booking.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 1,912.42 crore yesterday as per provisional data from stock exchanges.
The broadbased 50-issue CNX Nifty traded between a high of 7,685.00 points and low of 7,595.50 points before ending at 7,663.90 points, a gain of 23.45 points, or 0.31 per cent, from its previous close.
IDFC gained 2.85 per cent, TCS by 2.49 per cent, HeroMotoCorp by 2.41 per cent, Kotak Bank by 2.29 per cent and HCL Tech by 2.28 per cent.
However, Tata Power lost 2.49 per cent, Ambuja Cement slipped by 2.25 per cent, Hindalco went down by 2.15 per cent, BHEL slid by 1.85 per cent and GAIL declined by 1.82 per cent.
Turnover in the cash segment eased to 16,084.09 crore from Rs 16,753.25 crore yesterday. A total of 8,605.84 lakh shares changed hands in 68,07,546 trades, while total market capitalisation stood at Rs 88,27,582 crore.