Share/Stock Highlights: The benchmark indices on the BSE and National Stock Exchange (NSE) extended their positive momentum and ended over 0.6 per cent higher on Wednesday aided by gains in banking and financial stocks.
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The S&P BSE Sensex gained 367.22 points (0.61 per cent) to reclaim the 60,000 mark and end at 60,223.15 while the Nifty 50 rose 120.00 points (0.67 per cent) to settle above the 17,900 mark at 17,925.25. Earlier in the day both the indices had begun on a choppy note moving in a narrow range in the opening deals.
On the Sensex pack, the gains on Wednesday were led by Bajaj twins comprisisng of Bajaj Finserv and Bajaj Finance, along with Kotak Mahindra Bank, Tata Steel, Axis Bank and HDFC Bank. On the other hand, among the top laggards were the information technology (IT) stocks – Tech Mahindra, Infosys, HCL Technologies and Wipro, along with PowerGrid Corporation of India, Dr. Reddy’s Laboratories.
Among sectoral indices, the Bank Nifty surged 2.32 per cent on Wednesday led by AU Small Finance Bank and Bandhan Bank. The Nifty Financial Services index too gained 2.02 per cent aided by the Bajaj twins and Cholamandalam Investment and Finance Company. However, the Nifty IT index cracked 1.93 per cent weighed by Larsen & Toubro Infotech and Coforge.
(with inputs from agencies) Read less
The frontline equity indices on the BSE and National Stock Exchange (NSE) continued their bull run and ended over 1 per cent higher on Tuesday taking cues from their global peers.
The S&P BSE Sensex surged 672.71 points (1.14 per cent) to end at 59,855.93 while the Nifty 50 rose 179.55 points (1.02 per cent) to settle at 17,805.25.
"In a highly volatile session, the domestic market witnessed a recovery following a mild dip though the global sentiments were not in favour of bulls. Increasing covid cases leading to stricter restrictions has pressurised market volatility. The banking sector outshone other sectoral indices as few private lenders reported double-digit business growth during the third quarter. IT stocks took a blow as investors awaited the onset of the quarterly results season. US and Asian markets traded weak ahead of the release of the US Fed meeting minutes while European indexes held ground."
The S&P BSE Sensex ended at 60,223.15, up 367.22 points or 0.61 per cent, while the Nifty 50 settled at 17,925.25, up 120.00 points or 0.67 per cent.
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Asian stocks slipped on Wednesday following a mixed Wall Street session as higher U.S. Treasury yields weighed on global tech firms and pushed the dollar to a five-year high against Japan's yen.
U.S. yields rose on Tuesday as bond investors geared up for interest rate hikes from the Federal Reserve by mid-year to curb stubbornly high inflation.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.8%, while Japan's Nikkei was little changed.
U.S. stock futures also slipped with S&P 500 e-minis down 0.25% and Nasdaq e-minis losing 0.4%.
Hong Kong-listed tech stocks lost 3.7% in early trade while in Japan, Nintendo slipped 1% and in South Korea, Samsung shed 2% ahead of its quarterly results.
U.S. shares were mixed on Tuesday with the tech-heavy Nasdaq losing 1.3%, though rising yields boosted banks and industrial names helped the Dow Jones Industrial Average to a record closing high and the S&P 500 to touch an all-time intraday high.
(Reuters)
Sensex rises 77.38 pts to 59,933.31 in opening session; Nifty advances 18.15 pts to 17,823.40.
(PTI)