Share Market Closes Higher, Sensex Ends At 76,724, Nifty Settles Over 23,200
The broader markets ended trading on a high. The Nifty Next 50 dominated the gains and settled 0.88 per cent higher, followed by the Nifty Midcap Select index which climbed 0.83 per cent in the day.
Indian benchmark indices ended trading on Wednesday in the positive territory after beginngint the session on a higher. The BSE Sensex settled for the day at 76,724, climbing more than 200 points, while the NSE Nifty50 ended trading above the 23,200 mark, inching up by 37.15 points.
On the 30-share Sensex, Zomato, NTPC, PowerGrid, Kotak Mahindra Bank, and Maruti ended up among the gainers. On the other hand, M&M, Bajaj Finserv, Axis Bank, Tata Motors, and Nestle closed trading among the laggards.
The broader markets ended trading on a high. The Nifty Next 50 dominated the gains and settled 0.88 per cent higher, followed by the Nifty Midcap Select index which climbed 0.83 per cent in the day.
Sectorally, the markets ended on a mixed note. The Nifty Midsmall Healthcare closed trading in red and settled 1.78 per cent lower. On the other hand, the Nifty Midsmall Financial Services index closed at 1.72 per cent higher.
The Indian rupee extended its recovery for the second consecutive session and closed higher by 13 paise at 86.40 (provisional) against the US dollar on Wednesday. The domestic currency followed favourable indicators from domestic markets and was backed by the relaxation in crude oil prices.
Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan, noted, "The rupee gained for the second consecutive session on weak US dollar and soft US 10-year treasury yields. A pullback in the domestic equities and overnight decline in crude oil prices also favoured the rupee. However, FII outflows capped sharp gains. Going ahead, the US inflation is expected to remain elevated and it may lead to a recovery in the US dollar, which is likely to put pressure on the rupee. Traders may take cues from CPI data from US and speeches from various Fed speakers today. USD-INR spot price is expected to trade in a range of Rs 86.25 to Rs 86.65."
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