Stock Market: Sensex Rises 346 Points, Nifty Nears 17,100. All Sectors Settle In The Green
Stock update: On the 30-share Sensex platform, HCL Tech, UltraCemco, IndusInd Bank, Bajaj Finserv, HUL, Tata Motors, Bajaj Finance, M&M were among the notable gainers
The two equity benchmarks, Sensex and Nifty, on Wednesday, which gyrated between gains and losses on the day of the monthly F&O expiry for March, closed in the green.
The S&P BSE Sensex ended at 57,960, up 346 points (0.6 per cent), after trading between 57,524 and 58,122 during the day. On the other hand, the Nifty50 settled at 17,081, up 129 points (0.76 per cent). It see-sawed over 150 points during the day.
On the 30-share Sensex platform, HCL Tech, UltraCemco, IndusInd Bank, Bajaj Finserv, HUL, Tata Motors, Bajaj Finance, M&M were among the notable gainers. On the flip side, Airtel, Reliance, Asian Paints, and ICICI Bank were the four losers on the platform.
Other stocks like Adani Enterprises, Adani Ports, JSW Steel, Eicher Motors, and Hero MotorCorp were the large-cap winners, surging up to 9 per cent.
In the broader markets, the BSE Midcap and the Smallcap indices added 1.5 per cent each.
Among sectors, auto, FMCG, PSU Bank, capital goods, realty and metal indices up 1-3 per cent.
In the previous session on Tuesday, the BSE Sensex was down 40.14 points (0.07 per cent) to end at 57,613. On the other hand, the Nifty closed at 16,951, down 34 points (0.20 per cent).
In Asian markets, Seoul, Japan, and Hong Kong ended in the green while Shanghai finished lower. European markets were quoting in the positive territory during the afternoon trade. The US markets ended lower on Tuesday.
"The home market is being impelled to stay non-sticky in both directions by the continuous instability in the international market. The domestic market's favourable ending was supported by a significant upswing in both the US and European markets. This volatility is expected to continue until the global banking system gets fully recovered from the turmoil, along with a confirmation of the Fed's decision to pause rate hikes," said Vinod Nair, Head of Research at Geojit Financial Services.
Global oil benchmark Brent crude advanced 0.38 per cent to $78.95 per barrel.
Foreign Portfolio Investors (FPIs) turned buyers on Tuesday as they bought equities worth Rs 1,531.13 crore, according to exchange data.
Meanwhile, the rupee declined 15 paise to close at 82.31 (provisional) against the US dollar on Wednesday amid a rise in crude prices and a firm greenback in the overseas market. However, a strong sentiment in domestic equities and fresh foreign fund inflows restricted a sharp fall of the local currency, according to forex traders.
At the interbank foreign exchange market, the domestic unit opened sharply lower at 82.26 and touched an intra-day high of 82.23 and a low of 82.37 against the greenback. It finally ended at 82.31 (provisional), registering a fall of 15 paise over its previous close of 82.16. The dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.02 per cent to 102.13.
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