Benchmark equity indices continued to gain after a one-day drop on Tuesday and closed at their highest since Nov. 6, led by gains in HDFC Bank Ltd. and Adani Group shares, which emerged as top Nifty contributors.
Globally, market players assessed the impact of Trump's tariff policies and Israel-Lebanon ceasefire and they await key economic data from the US, including prelim GDP and PCE Price index.
Intraday, both Nifty and Sensex rose over 0.6% to hit 24,354.55 and 80,511.15, respectively, their highest levels since Nov. 7. The NSE Nifty 50 ended 0.3% or 82.65 points up at 24,277.15 and S&P BSE Sensex closed 0.3% or 238.75 points higher at 80,242.81
"From the past three trading days, the index is seen oscillating in a tight range of 24,140-24,350, a breakout on either side is necessary for a directional trend," said Aditya Gaggar, director of Progressive Share Brokers Pvt.
Also Read: Adani Group Adds Over Rs 1.2 Lakh Crore To Market Cap With Adani Enterprises, Adani Ports In Lead
Share prices of HDFC Bank Ltd., Adani Enterprises Ltd., Adani Ports and Special Economic Zone Ltd., Trent Ltd., and NTPC Ltd. contributed the most to gains in Nifty.
While those of ICICI Bank Ltd., Tata Consultancy Services Ltd., State Bank Of India, Reliance Industries Ltd., and Titan Co. capped the upside.
On NSE, most sectoral indices rose with Nifty Energy gaining the most
The BSE Midcap ended 0.34% higher, while BSE Smallcap outperformed benchmark indices and ended up 1.18%.
On BSE, 18 out of 21 sectors ended higher and three declined. BSE Utilities rose the most, and the BSE Healthcare declined the most.
Market breadth was skewed in the favour of buyers. Around 2,586 stocks advanced, 1,344 stocks declined, and 110 stocks remained unchanged on BSE.
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