Midcaps continue to outperform Sensex; IT stocks turn negative

Benchmark indices traded sharply higher in afternoon, with the Sensex rising 223.72 points or 0.66 percent to 34,229.48.

The 50-share NSE Nifty rose 61 points or 0.58 percent to 10,516, driven by HDFC Bank, Reliance Industries, Tata Steel, L&T, HDFC, Maruti Suzuki, Tata Motors, Yes Bank and ONGC.

The broader markets continued to outperform frontline indices, with the Nifty Midcap index rising 1.5 percent. About four shares advanced for every share falling on the BSE.

All sectoral indices traded in the green except IT. Nifty IT index underperformed, falling 0.3 percent. HCL Technologies lost over 2 percent, followed by Infosys, Tech Mahindra and TCS.

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Sensex, Nifty rangebound; RBI’s MPC meet outcome awaited Sensex, Nifty continue to be sluggish ahead of RBI policy; Europe mixed
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