Mumbai: The benchmark Sensex rose 314 points and the Nifty closed above 24,800 on a recovery in IT stocks and expectations of a rate cut by the US Federal Reserve later this month. Rising for the second consecutive day, the 30-share BSE Sensex closed up 314.02 points, or 0.39 per cent, at 81,101.32.
During the day, it rose 394.07 points, or 0.48 per cent, to 81,181.37. The 50-share NSE Nifty closed up 95.45 points, or 0.39 per cent, at 24,868.60.
Among the Sensex companies, Infosys shares rose 5.03 per cent. India's second-largest IT services company said its board will consider a proposal for equity share buyback on September 11.
Tech Mahindra, Adani Ports, HCL Tech, Tata Consultancy Services and Bajaj Finserv were also among the gainers. However, Trent, Eternal, UltraTech Cement and NTPC were down.