Closing Bell: Last hour rally helps Sensex close over 230 points higher, Nifty above 10,850

Equity benchmarks have closed the session with strong gains. The Nifty has ended the session around 10,850-mark.

There was some weakness seen among metals and energy sectors, along with PSU banks. Meanwhile, banks, automobile and consumption names rose during the trade.

The Nifty Midcap index ended with cuts of around one-tenth of a percent.

Bharti Airtel, Axis Bank and ITC are the top gainers, while Yes Bank, Tata Steel, GAIL and HPCL lost the most.

Bajaj Corp reported a rise of 9 percent in its net profit for December quarter at Rs 60.1 crore. The company had posted profit of Rs 55.2 crore last year.

Company reported net profit of Rs 985 crore against Rs 920 crore, QoQ. Gross NPA at 1.13 percent versus Rs 1.09 percent, while Net NPA was at 0.59 percent against 0.48 percent, QoQ.

| Prabhat Dairy is planning to enter into the Animal Nutrition business, which includes cattle feed, nutrition supplements & animal genetics.

Benchmark indices erased all its gains with Nifty is trading below 10,800 level.

The Sensex is down 64.95 points at 35915.98, while Nifty is down 30.90 points at 10771.30. About 994 shares have advanced, 1373 shares declined, and 137 shares are unchanged.

| Tera Software bagged work order worth of Rs 324.89 crore to establish optical Fibre network infrastructure in the state of Andhra Pradesh from APSFL.

IFCI raises long-term loan rates to 10.75 percent from 10.6 percent w.e.f January 9

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: The firm has maintained buy rating on the stock but cut target price to Rs 150 from Rs 170 per share.

According to firm, the commercial vehicle cycle downturn is transient in nature and growth is likely to come back in FY20.

: December Production was down 12 percent at 1.07 lakh units against 1.22 lakh units, YoY.

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