Share Market Update: With Budget In Focus, Sensex, Nifty Gain For Second Day; Metal, Bank Stocks Rally

Indian indices closed Wednesday's session on higher note for the second consecutive session with both BSE Sensex and NSE Nifty trading in green, lifted by metal stocks.

Sensex ended 157 points higher on Wednesday, driven by gains in metal, power and financial stocks ahead of June derivatives expiry. (Image: PTI)

Share Market Update: Indian indices closed Wednesday's session on higher note for the second consecutive session with both BSE Sensex and NSE Nifty trading in green, lifted by metal stocks. The BSE Sensex ended 157 points higher on Wednesday, driven by gains in metal, power and financial stocks ahead of June derivatives expiry. The 30-share index settled 157.14 points, or 0.40 per cent, higher at 39,592.08. The index hit an intra-day high of 39,674.22 and a low of 39,319.64. Likewise, the broader NSE Nifty too rose 51.10 points, or 0.43 per cent, to finish at 11,847.55. During the day, the index touched a high of 11,871.85 and a low of 11,757.55. In the broader market, the S&P BSE MidCap index surged by 117 points, or 0.8 per cent, to 14,792, while the S&P BSE SmallCap was ruling around 14,175, up 66 points, or 0.47 per cent. Shares of SBI Life Insurance Company hit a 52-week high of Rs 715 per share, up 6 per cent intra-day, on the Bombay Stock Exchange (BSE). As per market reports, Vedanta was the biggest gainer in the Sensex pack, rising 4.40 per cent. PowerGrid, Sun Pharma, Yes Bank, Tata Steel, HDFC Bank, Bajaj Finance, ICICI Bank and Bajaj Auto too ended up to 4.12 per cent higher. On the other hand, Infosys, IndusInd Bank, Tech Mahindra, Bharti Airtel, Maruti, TCS and HDFC were among the top losers, shedding up to 1.12 per cent. According to traders, buying interest was largely seen in stocks of metal, power, healthcare, capital goods and financial counters ahead of the expiry of June futures and options (F&O) contracts scheduled for Thursday. Domestic investors are also hoping for positive news on the trade front in the backdrop of US Secretary of State Mike Pompeo holding talks with Prime Minister Narendra Modi in New Delhi, traders added. Experts believe that equities witnessed gains after positive momentum was triggered in the domestic stock market on reports of swift monsoon progress in the country. Even on the currency front, Indian rupee was appreciated 22 paise to 69.13 against the US dollar intra-day. Brent crude futures, the global oil benchmark, rose 1.17 per cent to USD 65.03 per barrel.