The 30-share BSE Sensex gained 23 points or 0.14% to close at 16,991, while the 50-stock Nifty index advanced 7 points to 5,149 Thursday. Markets closed with modest gains for the third straight day. The rupee also traded higher against the dollar.
Trade was choppy on account of the derivatives expiry, with the volatility rising marginally. However, the benchmarks refused to move out of the narrow range, which has characterized trade over the last few days.
Banking stocks came under some selling pressure today after global banking major HSBC exited two Indian private sector lenders - Axis (-2.2%) and Yes Bank (-2.2%).
Tata Motors (0.5%), India's biggest commercial vehicles manufacturer, however rebounded to close higher. The stock had been under selling pressure for the second day on a row.
On the Nifty, 27 of the 50 stocks ended with gains. Infra Major Jaiprakash Associates (2.95%) was the top gainer, followed by cement major Ambuja (2%), and Tata Steel (2%).
Mining majors Sesa Goa (-2.9%) and Sterlite (-2.3%), and gas utility firm Gail India (-2.5%) were the top three Nifty losers. IT major HCL Tech (-2.3%) was also among the big Nifty laggards.
Support remains same at 5091 & 5032 level. Resistance is at 5163.
