Stock market extends winning steak; PSU bank at new high
Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.
Extending their winning streak for the fourth consecutive session, domestic indices settled half per cent above on Wednesday following gains in Reliance Industries, Infosys and Kotak Bank amid persistent foreign fund inflows. The S&P BSE Sensex ended 230.04 points or 0.59 per cent higher at 39,073.92 levels. Similarly, the NSE Nifty advanced 77.35 points or 0.67 per cent to finish at 11,549.60 mark.
IndusInd Bank (up by around 6 per cent) was the top gainer on the index, followed by Reliance Industries (up by over 2.6 per cent), Axis Bank, Kotak Bank, Bajaj Auto and HCL Tech.
On the other hand, the index’s laggards were led by Bharti Airtel followed by UltraTech Cement, Maruti and Asian Paints.
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Similar to the benchmarks, broader market MidCap ended 0.38 per cent up and SmallCap closed 0.69 per cent higher.
Traders said a rally in index majors Reliance Industries and Infosys lifted benchmarks at the fag-end of the session.
Largely positive cues from the global markets and persistent foreign fund inflows too buoyed market sentiment, they added.
Foreign institutional investors bought equities worth a net Rs 1,481.20 crore on Tuesday, exchange data showed.
Bourses in Hong Kong and Seoul ended with gains, while Shanghai and Tokyo closed lower.
In Europe, stock exchanges in Paris and Frankfurt were trading on a positive note in early deals, while London witnessed losses.
Global oil benchmark Brent crude was trading 0.13 per cent higher at USD 46.23 per barrel.
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