Markets rise for third session

Markets gave up early gains, but managed to end higher for the third straight session on Wednesday, driven by robust buying in technology and healthcare stocks, amid positive macro data.

The BSE Sensex closed 46.64 points higher at 35,739.16, while the broader NSE Nifty rose 13.85 points to close at 10,856.70 points.

Sentiment was largely positive after April IIP grew at 4.9 per cent, spurred by higher growth in manufacturing and mining sectors. However, concern prevailed over retail inflation inching up to 4.87 per cent in May on increase in food prices.

The BSE IT index was the session’s top gainer, spearheaded by TCS, which spurted 2.43 per cent after the company said it will consider a share buyback proposal at its board meeting on Friday.

Asian markets ended mixed and European stocks rose in early deals as investors awaited the US Federal Reserve’s policy decision, shifting focus away from the US-North Korea summit.

The 30-share Sensex opened strong and hit a high of 35,877.41 on sustained buying by domestic institutional investors. However, it succumbed to late selling and finally settled at 35,739.16, still up 46.64 points or 0.13 per cent. The index has now gained 295.49 points in three days.