Markets Continue To Rise On High-End Purchases; SBI And Reliance Excel

The equity benchmark indices Sensex and Nifty recovered from early lows to settle higher on Wednesday, aided by fag-end buying in energy, metal, and utility sectors amid a mixed trend in global markets.

For the second straight session, the 30-share BSE Sensex soared 267.64 points or 0.37 percent to 71,822.83. During intraday trading, the index fluctuated between a high of 71,938.59 and a low of 70,809.84.

The broader NSE Nifty advanced 96.80 points or 0.45 percent to 21,840.05.

State Bank of India was the Sensex’s largest gainer, up 4.24 percent, followed by Tata Steel, Axis Bank, Maruti, NTPC, PowerGrid, ITC, and Nestle India.

Among the laggards were Tech Mahindra, Sun Pharma, TCS, Infosys, and HDFC Bank.

In the Asian markets, Japan’s Nikkei 225 fell, while Hong Kong’s Hang Seng and South Korea’s Kospi indices finished higher.

Early on, European stocks were trading well.

The US market suffered huge losses overnight on Tuesday.

Brent crude gained 0.78 percent to USD 82.64 per barrel on Tuesday.

According to the exchange data, Foreign Institutional Investors (FIIs) brought securities worth Rs 376.32 crore on Tuesday.

On Tuesday, the Sensex went up by 482.70 points or 0.68 percent to 71,555.19, while the Nifty moved 127.20 points or 0.59 percent to 21,743.25.

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