Gainers and Losers: Benchmark Sensex pared early losses to close 242 points higher while Nifty settled above the 18,000-mark on Wednesday following gains in IT, oil and select banking stocks amid mixed global trends.

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Extending gains for a second day, the 30-share BSE Sensex advanced 242.83 points or 0.40 per cent to close at 61,275.09 with 20 of its constituents ending in the green.

The index opened lower at 60,990.05 but later regained its footing to touch a high of 61,352.55 in day trade.

The broader Nifty of NSE rose by 86 points or 0.48 per cent to settle above the 18,000-mark at 18,015.85.

While Tech Mahindra topped the Nifty gainers' chart, followed by, Apollo Hospital, Eicher Moto, Reliance and Bajaj Finserv; on the flipside, Hindustan Unilever, Sun Pharma, ONGC, L&T and IndusInd Bank were among the major laggards.

Ajit Mishra, VP - Technical Research, Religare Broking Ltd says he is positive on the market. However, he adds that intermediate consolidation/profit taking on the global front and restricted participation within the index heavyweights could keep the momentum in check. 

He recommends staying selective and preferring exposure to the counters which are leading from the front.

Tech Mahindra Limited

Tech Mahindra stock rallied by Rs 56.55 or 5.59 per cent at Rs 1,068.60 apiece on NSE.

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