Stock Market Highlights: Frontline indices logged steady gains on Wednesday backed by renewed buying interest in banking stocks. Metals and Capital Goods stocks too climbed higher, while shares related to Chandrayaan-3 mission and defence also gained traction.
The S&P BSE Sensex rebounded from a low of 65,109, and rallied to a high of 65,505 – an intra-day gain of 396 points. The BSE benchmark eventually ended 213 points higher at 65,433.
The NSE Nifty 50 touched a high of 19,472, and settled with a gain of 48 points at 19,444.
SBI and ICICI Bank, up 1.5 per cent each, were the top gainers among the Sensex 30 shares. Tata Steel, Maruti, Kotak Bank, Bajaj Finance, Power Grid and Nestle also finished with smart gains.
Shares of aerospace companies, including L&T, MTAR Technologies, and Paras Defence, that have supplied components for Chandrayaan-3, were buzzing in trade on Wednesday as India prepared to land its spacecraft at moon’s south pole. READ MORE
On the flip side, Jio Financial Services was locked at the 5 per cent lower circuit for the third straight trading session today. That apart, Sun Pharma, Bharti Airtel, Tata Motors, Tech Mahindra and ITC were the other prominent losers.
The broader indices once again outperformed the benchmark. The BSE MidCap index was up 0.4 per cent, and the SmallCap index added 0.6 per cent. The breadth too was fairly positive with nearly 2,100 shares advancing as against 1,530-odd declining stocks on the BSE.
…Read More