Sensex gains near 100 points; Nifty trades at 9917-level

Infosys, Wipro power Sensex to new highs

Infosys, Wipro power Sensex to new highs

However, heavy selling in FMCG stocks restricted the upmove. Meanwhile, the Nifty was trading higher by 30.65 points or 0.31% at 9,917.00 with 31 components gaining.

Among BSE sectoral indices, IT index was the star-performer and was up 0.96 per cent, followed by metal 0.87 per cent, TECk 0.87 per cent and infrastructure 0.72 per cent.

Asian stocks also rose, with the MSCI's broadest index of Asia-Pacific shares outside Japan up about 0.4 percent.

Nifty IT index was up 1.2 percent.

Back home, Wipro led gains, rising 4.1 percent after saying it's considering a buyback. Investors need to buy Grasim stocks by the end of Tuesday's trade, to be eligible for the share transfer.

Other gainers included Adani Ports, Mahindra and Mahindra, Reliance Industries, gaining between 1.2 percent to 1.6 percent. Infosys Ltd rose 1.4 percent while Wipro Ltd gained 3.2 percent after the software service provider said on Friday that it would consider a buyback proposal. Japanese markets were closed for a holiday.

The Dow and S&P 500 hit record highs after data showed consumer prices were unchanged in June and retail sales fell for a second straight month, pointing to tame inflation and subdued expectations of strong economic growth in the second quarter which could make Fed policymakers more cautious.

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