Sensex, Nifty Expand Gains For 3rd Straight Session; Midcap Stocks Outperform

Indian stock markets extended gains for the third straight session on Wednesday, with Sensex and Nifty closing higher amid positive global cues and Russia-Ukraine truce optimism.

The 30-share Sensex touched an intra-day high of 75,568.38 before closing at 75,449.05, up 147.79 points or 0.20%.

The Nifty ended at 22,907.60, gaining 73.30 points or 0.32%. During the session, Nifty moved between 22,940.70 and 22,807.95.

Among Nifty stocks, 33 out of 50 ended higher. Shriram Finance, HDFC Life, Apollo Hospitals, Tata Steel, and Power Grid Corporation led the gains, rising up to 3.91%.

Meanwhile, Tech Mahindra, Britannia, TCS, Infosys, and Sun Pharma saw losses of up to 2.32%.

Broader market indices outperformed the benchmark indices.

Nifty Midcap100 and Nifty Smallcap100 surged over 2% each, reflecting strong momentum in mid- and small-cap stocks.

Sectoral indices on the NSE mostly closed higher, except for Nifty FMCG and IT, which declined.

Markets opened with a positive bias despite weak global cues.

The Sensex gained 80.04 points or 0.11% at the opening, reaching 75,381.30. The Nifty edged up by 15.25 points or 0.07% to 22,849.55.

The Indian rupee strengthened by 12 paise, closing at 86.44 per dollar compared to 86.56 in the previous session.

Vikram Kasat of PL Capital said market sentiment remained upbeat, with investors focusing on key global events like the US Fed policy announcement, Putin-Trump talks, and rising gold prices.

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