On Wednesday, the Sensex and Nifty stayed at all-time highs. The Sensex, India’s leading stock index, rose 657 points to 58,163 on Wednesday, boosted by advances in IT and financial firms amid a strong trend in global markets. The Nifty 50 index ended the day 197 points higher at 17,463. Maruti Suzuki was the Sensex’s largest gainer. Also among the top gainers were Wipro, HCL Tech, Titan, Infosys, Bajaj Finserv, Maruti, and Bajaj Finance. Sun Pharma, ITC, and Powergrid, on the other side, were in the red.
Earlier on Tuesday, the stock markets ended their three-day losing streak, with the BSE Sensex rising 187 points in the last hour of trade thanks to buying in energy, metals, and financial firms. Aside from that, dealers claim that buying done to seal deals gave rise to the shares. The market was able to recoup from its losses as a result of this.
In a volatile trade, the 30-share Sensex closed at 57,808.58, up 187.39 points, or 0.33 percent. Similarly, the Nifty of the National Stock Exchange rose 53.15 points, or 0.31 percent, to 17,266.75. Tata Steel’s stock was the largest gainer among the Sensex firms, up 3.10 percent. Other notable gainers include Bajaj Finance, Bajaj Finserv, Reliance Industries, Asian Paints, Titan, and Axis Bank.
On the other hand, the losers included Power Grid, TCS, UltraTech Cement, Tech Mahindra, Kotak Bank, L&T, HDFC Ltd. and HDFC Bank. Of these, there was a decline of up to 1.66 percent. 19 shares of Sensex were in gains, while 11 were in losses.
Vinod Nair, Head of Research, Geojit Financial Services said that there was more volatility in the domestic stock markets. But in the end it closed in profit. Selling by foreign institutional investors kept the pressure under pressure but buying by domestic investors helped offset it. He said the European Central Bank’s president’s remarks led to a rally in Europe’s markets. There is little chance of a tightening of the monetary policy stance, he added. This improved the sentiment of global investors.
