Sensex ends 318 pts higher, Nifty holds 10,500; IT stocks gain

The share price of construction company NCC rallied nearly 10 percent following healthy earnings for the quarter ended March 2018

Benchmark indices regained strength in late trade on short covering, with the Sensex rising 318.20 points or 0.93 percent to 34,663.11.

The 50-share NSE Nifty rallied 83.50 points or 0.80 percent to 10,513.90.

Tata Motors, GAIL and ONGC fell 4-7 percent while TCS, Infosys, Axis Bank and Bharti Airtel gained up to 4 percent.

Nifty Midcap fell 70 points on weak market breadth. About 1,087 shares declined against 997 advancing shares on teh NSE.

REC, Jubilant Foodworks, Parag Milks Foods, Hexaware, KPIT Tech and L&T Infotech gained up to 5 percent.

United Spirits, Jet Airways, Bharat Forge and Motherson Sumi fell up to 6 percent

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