Gains In Metal & Commodity Equities Drive Up Sensex And Nifty

Equity benchmark indices rose for the third straight day on Wednesday, recovering early losses to conclude in positive territory, boosted by buying in metal, commodity, and energy stocks amid encouraging WPI inflation data.

However, cautious trading persisted in the market as investors preferred to remain on the sidelines ahead of the US Fed’s interest rate announcement later in the day.

The 30-share BSE Sensex advanced 85.35 points or 0.14 percent to 63,228.51. It hit a high of 63,274.03 and a low of 63,013.51 during the day.

The NSE Nifty rose 39.75 points or 0.21 percent 18,755.90.

Tata Steel led the Sensex gainers with a 2.39 percent gain, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra & Mahindra, Wipro, Kotak Mahindra Bank, and Asian Paints.

Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys, and Titan, on the other hand, were among the laggards.

In Asian markets, Seoul, Shanghai, and Hong Kong closed in red, while Tokyo finished in green.

European equity markets were trading higher.

On Tuesday, the US markets concluded in positive territory.

Brent crude rose 1.08 percent to $75.09 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) purchased securities worth Rs 1,677.60 crore on Tuesday.

The BSE benchmark rose 418.45 points or 0.67 percent to end at 63,143.16 on Tuesday. The Nifty finished the day up 114.65 points or 0.62 percent, at 18,716.15.

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