Late Purchasing Boosts Stock Markets; L&T, Reliance Advance

The Sensex and Nifty eked out gains on Wednesday, thanks to late buying in capital goods, auto, and energy stocks, as investors remained cautious ahead of the US Fed’s interest rate decision later in the day.

Late purchasing propelled the 30-share BSE Sensex up 33.57 points or 0.05 percent to 69,584.60. It slid 450.47 points or 0.64 percent, during the day to 69,100.56.

The Nifty rose 19.95 points or 0.10 percent to 20,926.35.

NTPC, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, State Bank of India, Titan, and Tata Steel were the top gainers on the Sensex.

The major laggards were Tata Consultancy Services, Infosys, Axis Bank, Bajaj Finserv, UltraTech Cement, and Bajaj Finance.

In Asian markets, Seoul, Shanghai, and Hong Kong finished lower while Tokyo finished higher.

European markets were trading higher.

On Tuesday, the US markets ended in green.

Brent crude lost 0.27 percent to $73.04 per barrel.

According to exchange data, Foreign institutional investors (FIIs) acquired securities worth Rs 76.86 crore on Tuesday.

Retail inflation climbed to a three-month high of 5.55 percent in November, bucking a falling trend on firming food prices, notably vegetables and cereals, while it remains within the RBI’s comfort zone of less than 6 percent.

Following a two-day surge, the BSE benchmark slipped 377.50 points or 0.54 percent to 69,551.03 on Tuesday. The Nifty slid 90.70 points or 0.43 percent to 20,906.40.

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