In a significant boost, the Indian stock market witnessed a strong performance as both Sensex and Nifty recorded significant gains on Wednesday. The S&P BSE Sensex made a significant rise of 742 points, ending at 65,676, while the NSE Nifty50 settled at 19,675, showing an upward movement of 232 points. The bullish trend was attributed to widespread buying activities across various sectors, along with favorable inflation data. Among the 30 shares on the Sensex, TechM emerged as the front runner, posting a significant gain of 3.83 percent. Other notable acquisitions included Tata Motors, Infosys, Wipro, Tata Steel, and TCS. However, several stocks declined, with Bajaj Finance, IndusInd Bank, and PowerGrid being the notable losers.
Sectorally, all major indices closed in the green, reflecting overall market strength. Sectors such as capital goods, auto, metals, information technology, oil & gas, and realty posted gains of 1 to 3 percent. Notably, the Nifty Realty index led the pack with a significant surge of 2.95 percent, followed by the Nifty IT index, which rose 2.59 percent. The Nifty Auto, Nifty Financial Services, and other key sectors also added to the positive momentum.
This significant rise came after the previous session on Monday, where the market declined, with the BSE Sensex closing 326 points lower at 64,934 and the NSE Nifty50 settling at 19,444, down by 82 points. In particular, the stock market remained closed on Wednesday due to Balipratipada.
Investors and market analysts are closely monitoring these market fluctuations, and the recent boom has shown optimism, reflecting positive sentiments prevailing in the stock market. The performance of leading stocks and sectors is key to gauging the overall economic outlook, especially given the changes in global economic conditions.
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