Stock Market: Sensex Gains 394 Points; Nifty At 19,800. All Sectors In The Green Except PSU Bank

Stock update: On the 30-share Sensex platform, Wipro, UltraCemco, Reliance, HUL, Nestle, M&M were among the gainers. On the downside, HCL, TCS, SBI, Infosys, Tata Steel, IndusInd Bank emerged losers

In the broader markets, the BSE Midcap and Smallcap indices gained 0.5 per cent and 0.7 per cent, respectively.

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The two key equity benchmarks, Sensex and Nifty, on Wednesday ended with strong gains for a second session. The BSE Sensex closed 394 points higher at 66,473. On the other hand, the NSE Nifty settled at 19,811, up 122 points.

On the 30-share Sensex platform, Wipro, UltraCemco, Reliance, HUL, Nestle, M&M were among the gainers. On the downside, HCL, TCS, SBI, Infosys, Tata Steel, IndusInd Bank emerged losers.

In the broader markets, the BSE Midcap and Smallcap indices gained 0.5 per cent and 0.7 per cent, respectively.

Sectorally, except PSU Bank, all other indices ended in the green with auto, FMCG, metal, pharma, power, oil & gas and realty up 0.5-1 per cent.

In the previous session on Tuesday, the S&P BSE Sensex zoomed 567 points to 66,079, while the NSE Nifty50 quoted 19,690, up 178 points.

Market breadth was positive as 2,353 stocks closed with gains, while 1,334 scrips closed in the red and 135 settled unchanged on the BSE.

"The total market breadth was strong, as investors believe that the Middle East skirmish will be contained within the region and should not impact the crude price," Vinod Nair, Head of Research at Geojit Financial Services said.

Global equity markets were mixed after Wall Street gains following easing pressure from the bond market. The Hang Seng in Hong Kong added 1.4 per cent, South Korea's Kospi jumped 2 per cent, and Tokyo's Nikkei 225 index climbed 0.6 per cent. The Shanghai Composite index edged less than 0.1 per cent lower. European stock markets were trading mostly flat.

Foreign Institutional Investors (FIIs) continued to be net sellers as they offloaded shares worth Rs 1,005.49 crore on Tuesday, according to data available with BSE.

Meanwhile, the rupee continued its gaining momentum for the second consecutive day and appreciated 7 paise to settle at 83.18 (provisional) against the US dollar on Wednesday amid robust buying in domestic equities and a weak American currency overseas. However, unabated withdrawal of funds by foreign institutional investors weighed on the domestic currency, forex analysts said.

At the interbank foreign exchange, the rupee opened strong at 83.20 and traded between the intra-day peak of 83.15 and the lowest level of 83.24 against the greenback. The local unit finally settled at 83.18 (provisional), registering a gain of 7 paise from its previous close. On Tuesday, the rupee settled 3 paise higher at 83.25 against the US dollar.