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Mumbai: Mumbai: The BSE Sensex rose on Monday after strong earnings from blue chip companies such as Larsen & Toubro and Tata Consultancy Services lifted market sentiment.
L&T shares rose 2.32 per cent, while TCS rose 2.26 per cent. The BSE Sensex rose 0.59 per cent or 111.13 points to close at 18793.44. Meanwhile, the 50-share Nifty advanced 0.58 per cent or 32.90 to close at 5717.15.
Investors have also been waiting for the RBI policy, which is scheduled for October 30. This was another reason that keeping the markets in a ranged since last two weeks.
Country's largest private sector lender ICICI Bank extended gains to 2 per cent ahead of quarterly earnings on Friday. Its rival HDFC Bank was up 0.8 per cent. Public sector lender State Bank of India trimmed losses to 0.2 per cent from 1 per cent.
Index heavyweight Reliance Industries rebounded with 0.7 per cent gains. Even capital goods majors recovered from day's low while telecom operator Bharti Airtel rose 0.8 per cent. Top software services exporter TCS rallied 2 per cent while its rivals Infosys and Wipro gained 0.2 per cent. Drug producers Cipla and Dr Reddy's Labs gained 1.5 per cent each.
Cigarette major ITC remained top loser with 1.5 per cent losses on profit booking. Earlier the stock had rallied on strong numbers. Shares of Tata Motors, Jindal Steel and Sterlite Industries fell 0.8 per cent each. Advancing shares outnumbered declining by a ratio of 709 to 631 on the National Stock Exchange.
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