The stock market on Wednesday surged, led by heavyweights, and at the fag end of the session, indices came off their day’s high and closed with mild gains.

Sensex opened at 76,679.11, and rose as much as 594 points to its intraday high of 77,050.53.

Advertisement

The index missed its all-time high level of 77,079.04 by just 29 points which it hit on June 10.

It finally closed 150 points, or 0.20 per cent, at 76,606.57, with 19 stocks in the green.
The Nifty 50 hit its fresh all-time high of 23,441.95 during the session today. Nifty50 opened at 23,344.45 and the index closed 58 points, or 0.25 per cent, higher at 23,322.95, with 32 stocks in the green and 18 in the red.

Shares of Coal India (2.78 per cent), Power Grid (2.43 per cent ) and Eicher Motors (1.81 per cent ) were the top gainers in the Nifty 50 index while the Mahindra and Mahindra (1.37 per cent), Britannia (1.26 per cent) and Hindustan Unilever (0.97 per cent ) were the top losers.

Among the sectors, all indices ended with gains barring Nifty FMCG (down 0.51 per cent), Auto (0.05 per cent ) and Realty (0.04 per cent ). Nifty Media (1.89 per cent ), PSU Bank (1.16 per cent ), Healthcare (0.84 per cent ) and Oil & Gas (0.83 per cent ) clocked significant gains.

Nifty Bank rose 0.38 per cent , while the Private Bank index ended 0.39 per cent higher.

The BSE mid and smallcaps continued their outperformance as the BSE Midcap index rose 1.07 per cent and the Smallcap index clocked a gain of 1.06 per cent .

The overall market capitalisation of companies listed on the BSE increased to nearly Rs 429.3 lakh crore from approximately Rs 427 lakh crore.

Indian Rupee appreciated 3 paise to close at 83.56 (provisional) against the US dollar riding on positive domestic market, wherein benchmark sensitive index Nifty touched a fresh all-time high.

Forex traders said rupee is trading in a narrow range as all eyes are on the US May CPI print and the US Federal Reserve’s rate decision on the global front and India’s Consumer Price Index (CPI) on the domestic front.

The volatility index India VIX fell over 2 per cent to 14, marking its third day of decline.

Shares of Oracle spiked nearly 9 per cent as investors cheered a boom in demand for the company’s relatively low-cost cloud infrastructure services from artificial intelligence applications. The shares have so far this year gained 18 per cent .

Shares of newly listed Go-Digit General Insurance shares were trading 2 per cent higher to Rs 343, paring gains after the scaling 10 per cent to hit an all-time high of Rs 372, following the company’s robust Q4 results.

Ahead of US inflation data and the Federal Open Market Committee (FOMC) meeting, global markets largely remained positive. Asian markets traded on a mixed note.