Sensex, Nifty Rise; ICICI Bank Gains As Jefferies Retains ‘Buy’

India’s stock benchmarks eased off days’ high, but still traded with gains, aided by telecom, fmcg, auto, metal and banking stocks.

The Sensex rose 0.5% to 52,520.94. The 30-stock gauge trimmed gains after rising over 640 points to an intraday high of 52,909.87. The Nifty also advanced by similar magnitude to 15,635.80. Today 37 stocks rose, while 12 fell and one remained unchanged.

The broader indices outperformed their larger peers with MidCap and SmallCap gauges gaining 1%. Barring Information Technology and Teck indices, all the other 17 sectoral indices compiled by BSE advanced with Telecom index rising over 2%.

The market breadth is skewed in the favor of bulls. About 2,256 stocks rose, 901 fell and 141 remained unchanged.

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