Nifty50 extends winning run to 5th day in a row, reclaims 24,850; Nifty IT stages biggest surge in 4 months

Domestic equity benchmarks registered sharp gains on Tuesday, with the Nifty50 rising for the fifth session in a row, amid strong buying interest in IT stocks. Both main gauges rose 0.4 per cent for the day. The Sensex gained 314 points to end at 81,101.3 while the 50-scrip index added 95.5 points to 24,868.6.

Infosys led the upmove in the IT basket, a day after the software giant said its board will meet on September 11 to consider a share buyback proposal.

Here are key things to know about the market on September 9:

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Top Nifty50 gainers & losers | Infosys surges nearly 5%

• Infosys was the top blue-chip gainer in both Sensex and Nifty, rising 4.9 per cent for the day. Dr Reddy's, Wipro, Adani Ports, Tech Mahindra and SBI Life -- closing between 1.6 per cent and 3.5 per cent higher -- were the other top gainers in the Nifty50 basket.
• On the other hand, Trent, Eternal, UltraTech, Jio Financial Services and IndusInd Bank -- closing between 0.6 per cent and 1.7 per cent lower -- were the worst hit among the 17 laggards in the 50-blue-chip pack.

Top Sensex movers

• Infosys and TCS were the biggest contributors to the gains in both main barometers.

Investor wealth

• Investors gained Rs 1.21 lakh crore in wealth on Tuesday as BSE-listed companies' market capitalisation stood at Rs 453.94 lakh crore, according to provisional exchange data.

Banking basket

• The Nifty Bank -- whose 12 constituents include stocks like SBI and HDFC Bank -- edged up 0.1 per cent at the closing bell, having broadly gyrated within a 54,100-54,350 range during the session. Financial service stocks enjoy the maximum weightage of around 38 per cent in the Nifty50.
• The Nifty IT -- led by Infosys and TCS -- staged its biggest single-day move since May 12, rising 2.8 per cent. All of the index's 10 constituents finished in the green, with even Tier II stocks like Persistent and Mphasis rising more than 2.0 per cent each.

Midcap and smallcap stocks

• Among broader indices, the Nifty Midcap 100 and Smallcap 100 rising 0.3-0.4 per cent.
• In the BSE 500 universe, 253 stocks rose and 244 fell while three finished flat. BSE's broadest index rose 0.3 per cent, closing higher for a second straight session.
• Overall market breadth was slightly skewed in favour of the bears, with 10 stocks declining against every nine rising on BSE.

Global markets

• European markets began the day on a mildly positive note with the pan-continental Stoxx 600 index trading 0.1 per cent higher at the last count, taking positive cues from major Asian markets. Dow Jones was up over 30 points, or 0.1 per cent, suggesting a positive to flat opening on Wall Street. All eyes will be on Apple shares with the iPhone maker's "Awe Dropping" event set to start at 10:30 pm India time.