Stock Market Highlights: Nifty, Sensex Gain For Third Day; Nifty Realty Best Performer

The Indian equity benchmark indices closed higher three days in a row, as BEL and Power Grid Corp. stocks led gains.

The NSE Nifty 50 ended 86.40 points, or 0.37% up at 23,249.50, and the 30-stock BSE Sensex ended 226.85 points, or 0.30% higher at 76,759.81.

The NSE Nifty Bank also closed higher at 49,311.95, up 0.30%.

"The word expiry is always accompanied by volatility; seen in the index that showed a steady start before trending upwards and oscillating within a defined range for most of the session. However, a sharp decline in the afternoon erased all of its earlier gains. In the final hour of trade, a strong recovery helped the index close higher at 23,249.50, marking a gain of 86.40 points," according to Aditya Gaggar, director of Progressive Shares.

Among the sectors, realty and energy were the top performers, while IT and media lagged. The Nifty 50 has broken out of its Falling Wedge formation, suggesting a shift in momentum towards the positive, but the candlestick pattern is not that encouraging. For now, the zone of 23,350-23,400 will serve as resistance while support is at 23,065, he added.

Shares of Reliance Industries Ltd., Bharti Airtel Ltd., HDFC Bank Ltd., ICICI Bank Ltd. and Bharat Electronics Ltd. added to gains in the Nifty 50.

While those of Tata Motors Ltd., Infosys Ltd., Larsen & Toubro Ltd., Kotak Mahindra Bank Ltd. and Bajaj Finserve Ltd. weighed the index.

Seven of the 12 sectors ended in green, with Nifty Realty, Oil & Gas, Energy and Pharma gaining the most.

Nifty Media, IT, Auto, PSU Bank and Metal declined the most.

Broader markets ended on a mixed note. The BSE Midcap ended 0.04% down, and Smallcap ended 0.02% higher.

On BSE, 14 sectors advanced, and seven declined. The BSE Consumer Durable declined the most, and the BSE Oil & Gas rose the most.

Market breadth was skewed in favour of buyers. Around 2,149 stocks advanced, 1,800 stocks declined, and 125 stocks remained unchanged on BSE.