Nifty Concludes Above 19,800, Sensex Gains 393 Points

On Wednesday, the Sensex surged 393 points, while the Nifty closed above 19,800 on buying in energy, FMCG, and capital goods stocks amid mixed global cues and easing inflation fears.

The NSE’s broader Nifty rose 121.50 points or 0.62 percent to 19,811.35, with 37 index shares rising, 12 falling, and one remaining unchanged.

FMCG, energy, metal, pharma, and private bank shares all saw buying, while most IT company’s shares fell ahead of the release of quarterly financial results.

Wipro surged the highest on the Sensex, rising above 3.20 percent.

Among the winners were Ultratech Cement, Reliance Industries, Hindustan Unilever, Nestle, NTPC, M&M, HDFC Bank, ITC, Kotak Bank and Axis Bank.

HCL Tech, on the other hand, declined the highest by 1.24 percent. TCS, Infosys, IndusInd Bank, and Tata Steel were also down.

The BSE Midcap increased by 0.55 percent, while the SmallCap increased by 0.77 percent.

Market breadth was favorable, with 2,353 equities closing higher, 1,334 falling, and 135 remaining unchanged on the BSE.

Global equity markets were mixed following Wall Street advances and a lessening bond market pressure.

The Hang Seng in Hong Kong gained 1.4 percent, the Kospi in South Korea climbed 2 percent, and the Nikkei 225 in Tokyo rose 0.6 percent. The Shanghai Composite index fell by less than 0.1 percent.

European stock markets were essentially unchanged.

According to the data exchange, Foreign Institutional Investors (FIIs) continued to be net sellers on Tuesday, offloading shares worth Rs 1,005.49 crore.

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