Indian equity benchmarks closed Wednesday’s trade on a higher note, led by tech stocks. The Nifty 50 ended the day 142 points or 0.55% higher at 26,052, while the BSE Sensex rose 513 points or 0.61% to end at 85,186.
The Nifty Bank settled 316 points or 0.54% higher at 59,216. The midcap stocks also rose in today’s trade. The BSE Midcap finished 160 points or 0.34% higher at 47,328.50. The BSE Smallcap finished 204 points or 0.39% lower at 52,784.
“National indices staged a strong rebound on renewed optimism over an India–US trade deal, following encouraging comments from the Union Commerce Minister. Large caps led the gains, outperforming the broader market,” said Vinod Nair, Head of Research at Geojit Investments.
“The IT sector rallied on revived hopes of a Fed rate cut, supported by soft U.S. labour data and currency tailwinds, while PSU banks gained on merger-related news and improving fundamentals. Attention now turns to tomorrow’s FOMC minutes for further policy signals,” he added.
Big highlights from today’s market action-
Indices in intraday trade
The indices closed the trade on a higher note. During the session, out of 3,214 trading stocks, 1,409 advanced, while 1,711 declined, and 94 remained unchanged. Today, 72 stocks hit a fresh 52-week high. Meanwhile, 148 stocks touched a new 52-week low.
Top gainers
Max Healthcare Institute was the top gainer in the Nifty 50 in Wednesday’s session, closing 4.3% higher. It was followed by HCL Technologies, Infosys, Wipro, and TCS.
Top losers
Tata Motors PV’s shares were the biggest losers in today’s trade, declining 2.7%. It was followed by Coal India, Maruti Suzuki, Bajaj Finance, and Adani Ports were the only losers.
