Indian equity benchmarks closed Wednesday’s trade on a higher note, extending the rally to the third straight session. The Nifty 50 ended the day 180 points or 0.70% higher at 25,875, and the Sensex increased 595 points or 0.71% to end at 84,466.
The banking stocks were in line with the benchmarks. The Nifty Bank settled 136 points or 0.23% higher at 58,275. The midcap stocks also surged in today’s trade. The BSE Midcap rose 208 points, or 0.44%, at 47,360. The BSE Smallcap finished 402 points or 0.76% higher at 53,255.
“Global equities rallied on renewed risk appetite, driven by optimism over the anticipated resolution of the U.S. government shutdown and growing expectations of early Fed cuts amid signs of a cooling U.S. labour market. Emerging markets outperformed, reflecting the improvement in global sentiment. Indian indices mirrored this strength, with large-cap stocks leading gains, particularly in the auto, IT, and pharma sectors,” said Vinod Nair, Head of Research at Geojit Investments.
Big highlights from today’s market action-
Indices in intraday trade
The indices closed the trade on a muted note. During the session, out of 3,200 trading stocks, 1,927 advanced, while 1,178 declined, and 95 remained unchanged. Today, 81 stocks hit a fresh 52-week high. Meanwhile, 85 stocks touched a new 52-week low.
Top gainers
Asian Paints was the top gainer in the Nifty 50 in Tuesday’s session, closing 6.6% higher. It was followed by Adani Enterprises, Tech Mahindra, TCS, and Bajaj Finserv.
Top losers
Tata Motors Commercial Vehicle’s shares were the biggest losers in today’s trade, declining 1.5%. It was followed by Tata Motors Passenger Vehicle, Tata Steel, Shriram Finance, and Bharat Electronics were the only losers.
Top sectors in Wednesday’s trade
The Aquaculture sector’s stocks rose the most in Wednesday’s trade, rising 5.3% in the market capitalisation. Further, Paints and Pigments stocks were followed by the Textile sector stocks, which were further followed by the IT sector stocks. However, the Beverages – Non Alcoholic sector stocks fell the most.
