Sensex Closes Above 36,000, Nifty Settles At 10,858: 10 Things To Know
- Top gainers on the 50-scrip index Nifty were Bajaj Finance (+4.25 per cent), Kotak Mahindra Bank (+4.20 per cent), Bajaj Auto (+4.16 per cent), Hindalco Industries (+4.07 per cent) and Mahindra & Mahindra (+3.63 per cent).
- Twenty one out of 30 Sensex stocks closed in the green.
- Top gainers in the 30-share Sensex pack were Bajaj Auto (+4.68 per cent), Kotak Mahindra Bank (+4.24 per cent), Mahindra & Mahindra (+3.19 per cent), Vedanta (+3.19 per cent), Induslnd Bank (+2.97 per cent), Asian Paints (+2.19 per cent). HDFC Bank, Reliance Industries and HDFC contributed the most to the gains.
- The financial stocks, which led the gains, settled 1.83Â per cent higher, while selling pressure was witnessed in the export-dependent IT stocks as the rupee strengthened to Rs 69.88 against the dollar.Â
- The rupee jumped 74 paise to breach the 70 per dollar mark and touched 69.88, a three-month high level, in intraday trade amid sustained selling of the greenback by exporters and easing crude oil prices. Â
- According to Joseph Thomas, Head Research, Emkay Wealth Management, one key factor which has breathed new life into the markets is the statement from the Fed Chairman that US interest rates remain just below neutral. "This was seen as a signal that the Fed is probably close to the end of the tightening cycle", he added.
- "Lower crude leading to an improved macro strength in global markets and positive fund flows since the past few days led to Nifty gaining by 1.2 per cent. Continuing with the recent trend, largecaps outperformed midcaps and smallcaps again", said Viral Berawala, CIO, Essel Mutual Fund.
- Globally, Brent crude, the international benchmark, was trading 0.14 per cent down at $58.68 per barrel.Â
- On the other hand, Power Grid lost 1.55 per cent -- the most on the Sensex -- followed by ONGC, NTPC and Infosys.
- Foreign portfolio investors (FPIs) bought shares worth a net of Rs 961.26 crore on Wednesday. Domestic institutional investors sold shares to the tune of Rs 330.29 crore, provisional data with stock exchanges showed. (With inputs from agencies)
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