Kamal Ghorui
Benchmark equity indices Sensex and Nifty closed nearly 1 per cent higher on Wednesday, extending their recovery for a third straight session amid a slight easing in crude oil prices and supportive global cues.The 30-share BSE Sensex rose 633.29 points, or 0.83 per cent, to settle at 76,704.13. During the session, it surged as much as 929.38 points, or 1.22 per cent, to hit an intraday high of 77,000.22.The 50-share NSE Nifty climbed 196.65 points, or 0.83 per cent, to end at 23,777.80.
Nifty50 top gainers
- Jio Financial Services (4.47%)
- Eternal (3.38%)
- Tech Mahindra (3.24%)
- Infosys (2.78%)
- HCL Tech (2.74%)
- Mahindra & Mahindra (2.74%)
- Adani Ports (2.67%)
- TCS (2.06%)
- Axis Bank (2.05%)
- Kwality Wall’s (1.90%)
Nifty50 top losers
- Coal India (-1.53%)
- NTPC (-1.27%)
- Hindustan Unilever (-1.07%)
- Cipla (-1.05%)
- Sun Pharma (-0.90%)
- Hindalco (-0.39%)
- Apollo Hospitals (-0.39%)
- HDFC Bank (-0.28%)
- ITC (-0.27%)
- Tata Consumer (-0.27%)
BSE Sensex top gainers
- Eternal (3.38%)
- Tech Mahindra (3.24%)
- Infosys (2.78%)
- HCL Tech (2.74%)
- Mahindra & Mahindra (2.74%)
- Adani Ports (2.67%)
- Tata Consultancy Services (2.06%)
- Axis Bank (2.05%)
- Larsen & Toubro (1.84%)
- Kwality Wall’s (1.90%)
BSE Sensex top losers
- NTPC (-1.27%)
- Hindustan Unilever (-1.07%)
- Sun Pharma (-0.90%)
- HDFC Bank (-0.28%)
- ITC (-0.27%)
- Tata Steel (-0.02%)
“Domestic markets extended their recovery, supported by opportunistic buying after the recent sell-off. The rebound was broad-based, driven by a combination of short covering and value buying, with leadership from IT, realty, and auto sectors, alongside strength in mid and smallcap stocks,” Vinod Nair, Head of Research at Geojit Investments Limited, said, PTI quoted.Ajit Mishra, SVP – Research at Religare Broking, said markets maintained a positive bias for most of the session but profit booking in the final hours trimmed some gains. He noted that the sharp rebound in IT stocks was a key highlight of the day’s trade.The broader market also participated in the rally. The BSE MidCap Select index advanced 2.39 per cent, while the SmallCap Select index gained 1.59 per cent.Sectorally, BSE Focused IT jumped 2.95 per cent, followed by IT (2.82 per cent), realty (2.67 per cent), BSE MidSmall Private Banks Quality Tilt (2.48 per cent), services (2.45 per cent), telecommunication (2.44 per cent) and consumer discretionary (2.08 per cent). Metal stocks emerged as the only laggards.A total of 3,202 stocks advanced on the BSE, while 1,088 declined and 142 remained unchanged.Analysts said geopolitical tensions, continued weakness in the rupee and the possibility of renewed volatility in crude oil prices are likely to keep investors cautious in the near term.“From a strong three-day rebound, due to supportive global cues, markets are expected to remain cautious as investor sentiment may continue to be sensitive to developments in West Asia, movements in crude oil prices and continued FIIs activity. While a near-term relief rally may persist, its sustainability will depend on de-escalation in geopolitical tensions and moderation in energy prices,” Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services Ltd, said.Brent crude, the global oil benchmark, slipped 0.10 per cent to USD 103.3 per barrel.In Asian markets, South Korea’s Kospi surged 5 per cent and Japan’s Nikkei 225 climbed 2.87 per cent, while Shanghai’s SSE Composite and Hong Kong’s Hang Seng also ended higher. European markets were trading in positive territory, and the US market had closed higher on Tuesday.Foreign Institutional Investors (FIIs) sold equities worth Rs 4,741.22 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 5,225.32 crore.
