Stock Market Closes In Green Zone; Nifty At 25,236, Sensex Settles Over 700 Points
Top gainers on the Nifty included Titan Company, Infosys, M&M, Grasim Industries, and JSW Steel. Bharat Electronics, Kotak Mahindra Bank, Eicher Motors, Axis Bank, and ONGC were among the top losers
Indian equity benchmarks closed significantly higher on Wednesday, with the Nifty settling just shy of the 25,250 mark. At the close, the Sensex surged 700.40 points (0.85 per cent) to 82,755.51, while the Nifty rose 200.40 points (0.80 per cent) to 25,244.75. Market breadth was positive, with 2,711 stocks advancing, 1,163 declining, and 127 remaining unchanged.
Top gainers on the Nifty included Titan Company, Infosys, M&M, Grasim Industries, and JSW Steel. On the flip side, Bharat Electronics, Kotak Mahindra Bank, Eicher Motors, Axis Bank, and ONGC were among the top losers.
Broader Market Update
In the broader markets, the BSE Midcap index advanced 0.6 per cent, while the Smallcap index outperformed with a 1.6 per cent gain.
Sectorial Update
All sectoral indices ended in the green, with auto, consumer durables, IT, telecom, healthcare, and media gaining between 1 per cent and 2 per cent.
On the stock-specific front, Timex Group India shares dropped 5 per cent after the promoter announced plans to offload a 15 per cent stake via the Offer for Sale (OFS) route. In contrast, Bajel Projects shares were locked in the upper circuit following a large EPC order win.
IndiaMART InterMesh surged 7 per cent after receiving a double upgrade from Nuvama, while Reliance Infrastructure gained 5 per cent as Reliance Defence secured a Rs 600 crore export order from Germany’s Rheinmetall Waffe Munition GmbH. KNR Construction jumped over 8 per cent on bagging a substantial Rs 4,801 crore order.
Meanwhile, nearly 100 stocks on the BSE hit their 52-week highs, including EID Parry, MCX India, Hyundai Motor, Max Financial, Home First Finance, Narayana Hrudayalaya, Bharti Airtel, AU Small Finance Bank, LT Finance, Aditya Birla Capital, and Vishal Mega Mart, among others.
Bajaj Broking noted, "Benchmark indices extended their winning streak for a second consecutive session on Wednesday, closing decisively in the green as investor sentiment got a boost from the Israel-Iran ceasefire, which alleviated geopolitical overhang. The Nifty kicked off trade on a buoyant note, subsequently oscillated in a narrow band with a positive undertone, and finally settled near the day’s high at 25,244.75, marking a gain of 200 points or 0.8 per cent. All eyes are now on key macroeconomic cues from the US, notably the PCE Price Index and GDP print due later this week, which could provide further directional clarity. Meanwhile, India VIX slipped nearly 5 per cent, indicating a tapering of market volatility and improving risk appetite."
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