Indian equity benchmarks closed in positive territory on Wednesday as lower energy prices and improved foreign investor sentiment lifted markets, while buying in banking, auto and PSU bank stocks supported the rally.
The Sensex advanced 772.75 points, or 0.95 per cent, to close at 81,879.40, while the Nifty gained 210.40 points, or 0.84 per cent, to settle at 25,255.05. The indices, however, pared some of their intra-day gains before the close.
Among the Nifty constituents, Mahindra & Mahindra, InterGlobe Aviation and Trent emerged as the top gainers.
The broader market also remained firm, outperforming the benchmark indices in some pockets. The Nifty SmallCap 100 index rose 1.59 per cent, while the Nifty MidCap 100 gained 0.81 per cent.
Sectorally, Nifty PSU Bank led the gains with a rise of nearly 3 per cent, supported by strong buying in state-owned lenders. The Nifty Bank, Nifty Private Bank, and Nifty Auto indices also outperformed the broader market, contributing significantly to the benchmarks’ advance.
In contrast, technology and healthcare stocks lagged. The Nifty IT and Nifty Healthcare indices underperformed amid selective profit-booking and a shift of investor interest toward domestic cyclical sectors.
Experts attributed the positive momentum to easing energy prices and improving risk appetite following a moderation in foreign fund outflows.
(IANS)
