Sensex, Nifty extended gains on Closing Hours

Equity indices staged a relief rally as Sensex and Nifty regained sharply from lows. The BSE benchmark closed with gains of 160 points at 38767-mark while Nifty50 reclaimed 11,643 levels, up 46 points.

Among sectors, Nifty Media closed up 1.42% at 2,442.85 today with major gains in TV18 Broadcast (+ 9.35%) , Network18 Media & Investments (+ 5.13%) and T.V. Today Network (+3.68%).

In other indices, the Nifty FMCG advanced 1.27% and Nifty Auto index gained 1% on the day.

Analysts viewed that March quarter earnings, subdued monsoon prediction as well as election ambiguity is something which is capping upside for markets. However, on weekly-basis, Sensex & Nifty closed flat with a negative bias.