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Closing Bell: Sensex rises 85 points as market extends gains to 5th day; Mindtree up 2%, Wipro drops 6%

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Headline indices Sensex and Nifty ended a choppy session with mild gains, as gains in oil & gas and metal shares were offset by losses in financial and consumer goods stocks. The Nifty IT gave up its intraday gain of 0.7 percent to finish on a flat note.

Closing Bell: Sensex rises 85 points as market extends gains to 5th day; Mindtree up 2%, Wipro drops 6%
Indian equity benchmarks ended a choppy session mildly higher on Thursday, extending a winning run to the fifth day in a row. Strength in oil & gas and metal shares was countered by weakness in financial and consumer goods stocks. IT stocks remained in focus throughout the session, a day after TCS, Infosys and Wipro reported their quarterly earnings.
The 30-scrip Sensex index ended 85.3 points or 0.1 percent higher at 61,235.3 and the broader Nifty50 benchmark settled at 18,257.8, up 45.5 points or 0.3 percent from its previous close.
Among the top blue-chip gainers were Tata Steel, JSW Steel, Sun Pharma, Coal India, L&T, Divi's and Cipla, ending between 2.1 percent and 6.3 percent higher.
On the other hand, Wipro, Asian Paints, HCL Tech, HDFC Bank, IndusInd Bank, Kotak Mahindra Bank and Maruti Suzuki, finishing between 1.3 percent and six percent lower, were the worst hit among the 14 laggards in the Nifty50 pack.
Infosys, Tata Steel and Larsen & Toubro were the top contributors to the gain in both headline indices.
"The not-so-decisive move in the index combined with a dip in the banking space is pointing towards some consolidation. We feel it would be healthy, considering the surge from the December lows," said Ajit Mishra, VP-Research at Religare Broking.
The Nifty Bank put an end to a four-day winning streak, settling 0.7 percent lower. HDFC Bank, IndusInd Bank, Kotak Bank and Axis Bank fell around 1-2 percent each, SBI rose 0.2 percent and ICICI Bank finished flat.
TCS and Infosys rose around one percent each, but Wipro tumbled six percent. The Nifty IT index gave up its intraday gain of 0.7 percent to finish on a flat note. Mindtree rose 2.7 percent, ahead of the IT company's Q3 earnings announcement due later in the day.
Paytm shares continued to drop for yet another day, settling at a record closing low of Rs 1,028. At this level, the stock is available at a discount of 52.2 percent to its issue price.
Broader markets strengthened, with the Nifty Midcap 100 and Smallcap 100 indices ending the day 0.6-0.7 percent higher.
From the midcap and smallcap segments, TCNS Clothing, Jindal Stainless, Varroc Engineering, Nesco and Hathway Cable, rising between 5.4 percent and 7.6 percent, were the top gainers. On the other hand, CSB Bank, Suzlon, Sheela Foam, Venky's and Hawkins Cookers, declining between 0.9 percent and 5.3 percent, were the top losers.
Around 280 stocks in the BSE 500 -- the broadest index on the bourse -- ended in the green.
Meanwhile, consumer inflation in the country accelerated to 5.59 percent in December from 4.91 percent in the previous month, according to official data released after market hours on Wednesday. The reading was better than the 5.8 percent expected by economists in a CNBC-TV18 poll.
Separate data on the same day showed industrial production came down to a lower-than-expected 1.4 percent in November from 3.2 percent in the previous month.  
Global markets
European shares began the day with minor losses, snapping a two-day winning streak that was driven by commodity and technology stocks. The pan-European Stoxx 600 index was down 0.1 percent in early hours.
S&P 500 futures were flat, indicating a muted start ahead on Wall Street.
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