For the second straight session, the Indian markets on Wednesday had a record closing, with Sensex surging past 54,350, while Nifty above the 16250-mark, mainly led by banking and financials. The market today’s breadth favours declines with an advance-decline ratio at 2:5.
For the second straight session, the Indian markets on Wednesday had a record closing, with Sensex surging past 54,350, while Nifty above 16250-mark, mainly led by banking and financials. The market today breadth favours declines with an advance-decline ratio at 2:5.
The BSE Sensex surged near 550 points or a 1 per cent to 54,370, while Nifty50 jumped 128.5 points or 0.8 per cent to 16,259 at the record close today. The mid-cap index, on the other hand, posted a negative show, by declining over 337 points or 1.2 per cent to 27928.2 levels at the close today.
The broader market saw profit booking as, both, the BSE Mid and SmallCap indices declined 1 per cent each.
Another important index to market, Nifty Bank gained most of all the sectoral indices to close by 821 points or 2.33 per cent higher to 36028. levels.
Out of 50 scrips on Nifty50, 19 advanced, 31 declined at the close. HDFC amid steady Q1 results and strong management commentary, surged most by over 4.5 per cent at the close today.
Other banking heavyweights such as Kotak Bank, ICICI Bank, SBI and HDFC Bank gained most at the market close between 2-4 per cent on Wednesday. Private lenders followed the suite of HDFC twins, while SBI shares soared amid strong first-quarter results reported during the session.
On the contrary, Grasim continued to be a laggard as it started the session today, declined by around 2.5 per cent, followed by Titan and Tata Motors, Adani Ports and Hindalco slumped between 1.5-2.5 per cent at the market close on Wednesday.
Almost all sectoral indices ended in the red, except for banking (both private and PSU) and financial sectors helped the market to reach new heights on the second consecutive day on Wednesday. Nifty Realty and Media tumbled most by over 1 per cent today at the session end.
