Sensex Rallies Over 1,100 Points, Nifty Trades Above 16,300; M&M, Reliance Industries Top Gainers
New Delhi: The Indian equity indices traded higher on Wednesday led by gains in automobile, information technology and pharma stocks in afternoon deals. Global share markets fell as crude oil prices climbed further, driven by the United States banning Russian oil and other energy imports over Moscow's invasion of Ukraine. Crude climbed further to trade above $131 a barrel mark.
Back home, as of 1:16 pm, the benchmark BSE Sensex jumped 1,111 points or 2.08 per cent to 54,535; while the broader NSE Nifty rose 302 points or 1.89 per cent to 16,316.
Mid-and small-cap shares were trading in the positive zone as Nifty Midcap 100 index moved 2.04 per cent higher and small-cap shares gained 2.06 per cent.
14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Nifty Auto, Nifty IT and Nifty Pharma were outperforming the index by rising as much as 2.38 per cent, 1.89 per cent and 2.20 per cent, respectively. Nifty Metal fell as much as 0.18 per cent.
On the stock-specific front, Mahindra and Mahindra (M&M) was the top Nifty gainer as the stock surged 4.08 per cent to Rs 729.25. Reliance Industries, Tata Motors, Adani Ports and UltraTech Cement were also among the gainers.
On BSE, the overall market breadth was positive as 2,588 shares were advancing while 665 were declining.
On the 30-share BSE index, M&M, RIL, UltraTech Cement, Bajaj Finserv, Tech Mahindra, Bajaj Finance and Sun Pharma were among the top gainers. In contrast, PowerGrid, NTPC, Kotak Mahindra Bank, Nestle India and Tata Steel were trading in the red.
Both the indices had paused a 4-day losing streak in the previous trading session. Sensex had surged 581 points or 1.10 per cent to settle at 53,424 in a volatile trading on Tuesday, while Nifty had moved 150 points or 0.95 per cent higher to close at 16,013.
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