Benchmark indices Sensex and Nifty registered gains for the fifth straight session. The 30-share BSE Sensex closed 383.55 points, or 0.50 per cent, higher at 77,301.40. During the day, the benchmark hit a high of 77,396.04 and a low of 76,604.85, gyrating 791.19 points. Similarly, the 50-share NSE Nifty added 149.75 points or 0.63 per cent to close at 23,960.60. Similarly, the broader market ended the session in the green. The BSE MidCap Select Index added 142.58 points, or 0.81 per cent, while the BSE SmallCap Select Index gained 209.38 points, or 2.40 per cent.
Among sectoral indices, Nifty Media was the biggest gainer, up 5.15 per cent. Meanwhile, Nifty Realty and Nifty Metal jumped 2.85 per cent and 2.80 per cent, respectively. However, Nifty IT fell 1.50.
“The five-session advance has strengthened the market’s price structure, but the Nifty’s proximity to its 200-day SMA and Bank Nifty’s test of the 56,000 hurdle call for some caution. A sustained close above these levels, backed by broader market participation, could extend the recovery. Conversely, a rejection at resistance or a break below 23,850 could prompt consolidation following the recent rally,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
Top gainers and losers
Among the 30-Sensex firms, BEL, Titan, Indigo, Bajaj Finance, and ITC were the major gainers, with BEL gaining 4.56 per cent today. On the flip side, TCS, HCL Tech, Infosys, Eternal and Kotak Bank were among the laggards. TCS shares fell 2.70 per cent today.
Today, 21 of the 30 Sensex companies closed in the green, while the remaining 9 closed in the red. Meanwhile, 36 of the 50 Nifty 50 companies also closed in the green, while the remaining 14 closed in the red and one remained unchanged.
Rupee continues upward trajectory
Meanwhile, the Indian rupee stayed firm for the second straight session, settling 17 paise higher at 94.58 (provisional) against the US dollar on Wednesday, supported by easing crude oil prices, a weak American currency, and capital inflows from overseas investors.
Foreign Institutional Investors (FIIs) remained net buyers for the third consecutive day on Tuesday, purchasing equities worth Rs 6,836.81 crore, according to exchange data.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)