Markets@11: IT, banking sectors gain as markets rise

Markets Climb; Gains in IT and Banking Sectors

The market continued its upward trend, starting the day strong and climbing further as the session progressed. Despite early selling pressure, it was easily overcome.

Bank Nifty rose

The Nifty touched 24,721 in the morning, while the Sensex reached 80,899 before easing slightly. Bank Nifty rose by three-quarters of a percent.

Nucleus Software's stock, which is preparing for a buyback, surged by up to 20%.

Shipbuilding companies remained in the red, with Cochin Shipyard falling by nearly 2.5% before recovering some losses, and Mazagon Dock slipping by 5%.

Railway stocks, including RVNL, IRFC, and IRCON, also declined.

Public sector oil marketing companies saw gains of up to 5% following positive brokerage reports.

IT companies performed well today, with TCS rising by over 1.5%.

Slight gain for rupee

The rupee showed slight gains in the morning, opening at 83.86 per dollar, down by one paisa, before fluctuating.

Gold prices in the global market dropped to $2,502 per ounce, while in Kerala, gold fell by ₹80 per sovereign, settling at ₹53,280.

Crude oil prices are declining, with Brent crude reaching $77.04.