Mumbai– A sharp fall in crude oil prices along with continuous foreign fund inflows helped the major indices — Sensex and Nifty — to gain over 0.50 per cent each on Wednesday.
The upward trajectory of benchmark indices was complimented by a similar movement in the broader markets as the BSE Mid-cap index ended 0.49 per cent higher while the Small-cap surged nearly 1 per cent.
Sector-wise, except for auto index, all others ended higher led by oil and gas, energy and healthcare stocks.
The S&P BSE Sensex closed 193.56 points or 0.53 per cent higher at 36,636.10, while the NSE Nifty50 ended the day’s trade 65.55 points or 0.60 per cent up at 11,053.
“Market crossed an important resistance level of 11,000 as investors continued to focus on domestic macros. It was a broad-based rally, where mid and small cap led from the front due to its attractive valuation,” said Vinod Nair, Head of Research, Geojit Financial Services.
Nair added that positive bias will continue, while further direction will depend upon upcoming US FED policy and conclusion of US-China trade agreement.
Among the top gainers on the Sensex were Bajaj Finance, ICICI Bank, Reliance Industries, Vedanta and HDFC while Tata Motors, Axis Bank, Tata Motors (DVR), Hindustan Uniliver and HCL Tech ended lower.
Carrying on from the previous session, markets continued to surge higher to close with healthy gains on the back of easing geopolitical tensions between India and Pakistan and resurgence of buying interest in beaten down large-caps and small and mid-caps stocks, said Deepak Jasani of HDFC Securities. (IANS)
