The Indian stock market ended Wednesday on a positive note, with both the Sensex and Nifty closing higher. The NSE Nifty 50 gained 205.85 points, or 0.9%, to settle at 23,163.10, while the BSE Sensex surged 631.55 points, or 0.83%, to close at 76,532.96.
Meanwhile, the Bank Nifty index also saw gains, rising 299.10 points, or 0.61%, to end at 49,165.95.
“The Indian market has demonstrated resilience in anticipation of the upcoming Union Budget, with expectations of measures aimed at stimulating consumption and job creation. Small and mid-cap stocks experienced a relief rally, while key index valuations are trading at a 5-year average, which appears attractive given the strong long-term domestic outlook. Investors are now focusing on the upcoming FOMC meeting, with general expectations that the Fed will maintain its current hawkish stance,” said Vinod Nair, Head of Research, Geojit Financial Services.
Top gainers and losers
As of the closing, the top gainers in the Sensex pack included Zomato, Tata Motors, Infosys, Tech Mahindra, UltraTech Cement, and Mahindra & Mahindra, all posting notable gains. On the other hand, the top losers were ITC Hotels, Maruti Suzuki, Bharti Airtel , Asian Paints, ITC, Hindustan Unilever and so on.
The top 5 gainers in the Nifty 50 pack included Shriram Finance, Bharat Electronics, Tata Motors, SBI Life, and Trent. On the flip side, the top losers were ITC Hotels, Maruti Suzuki, Asian Paints, Bharti Airtel, and Britannia.
Sectoral indices
The Nifty Midcap 50 index closed at 14,671.25, marking a gain of 2.30%, while the Nifty Midcap 100 index finished at 52,718.85, up by 2.31%. The Nifty Smallcap 50 index saw the highest gain, closing at 7,895.95, up by 3.23%.