Nifty Closes At Record High After Two-Day Fall: Market Wrap
Nifty closed 0.25% up at 23,322.95, while Sensex ended 0.2% higher at 76,606.57.
Benchmark equity indices came out of their two-day decline and closed higher on Wednesday, led by shares of heavyweights. Nifty closed at its highest-ever level.
Market players now await key inflation data from India and the US, along with the US Federal Reserve's decision on interest rates due later in the day.
The NSE Nifty 50 closed 58.10 points up, or 0.25%, at 23,322.95, while the S&P BSE Sensex ended 149.98 points, or 0.2%, higher at 76,606.57.
Intraday, the Nifty reached its lifetime high of 23,441.95.
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Shares of HDFC Bank Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Power Grid Corp. of India, and Coal India Ltd. contributed the most to gains in the Nifty.
While those of Mahindra & Mahindra Ltd., Infosys Ltd., Hindustan Unilever Ltd., Tata Consultancy Services Ltd., and Axis Bank Ltd. weighed on the index.
Most sectoral indices ended higher on the NSE, with Nifty Media gaining the most. Nifty FMCG was the top loser.
Broader markets outperformed benchmark indices. The S&P BSE Midcap ended 1.07% higher, while the S&P BSE Smallcap closed 1.06% higher.
On BSE, 18 sectors out of 20 advanced and two declined. S&P BSE Industrial rose the most among other sectors, while S&P BSE FMCG declined the most.
Market breadth was skewed in favour of buyers. Around 2,550 stocks advanced, 1,336 stocks declined, and 105 stocks remained unchanged on the BSE.
