Nifty Bank holds 400-pt rally on India’s rating upgrade; IT stocks dive


The 30-share BSE Sensex was up 335.96 points or 1.01 percent at 33,442.78 and the 50-share NSE Nifty rose 102.20 points or 1 percent to 10,317.

The gap between advances and declines narrowed a bit. About three shares advanced for every share falling on the BSE. The ratio was 5:1 in early trade.

Technology stocks were under pressure on rising rupee against US dollar.

HDFC twins, ICICI Bank, Reliance Industries, ITC were leading contributors to Nifty’s gains, rising 1-3 percent.

HDFC Life extended gains, rising 17 percent over issue price.

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