India’s benchmark indices closed higher on Wednesday, driven by strong buying in the energy, commodities, and public sector enterprise (PSE) sectors.
The Sensex gained 230.02 points, or 0.29 percent, to close at 80,234, while the Nifty rose by 80.40 points, or 0.33 percent, finishing at 24,274.90.
Shares of Adani Group companies surged sharply, with Adani Power soaring by 20 percent, closing at Rs 525.15 after a rise of Rs 87.50. Adani Enterprises Ltd jumped 11.56 percent to Rs 2,399, while Adani Green Energy saw a gain of 10 percent, closing at Rs 988.40.
The Nifty Bank index advanced by 110.30 points, or 0.21 percent, to 52,301.80. The Nifty Midcap 100 index rose 357.95 points, or 0.64 percent, to close at 56,272.35, while the Nifty Smallcap 100 index climbed 237.55 points, or 1.30 percent, ending at 18,502.85.
Among sectoral indices, energy, commodities, PSE, media, private banking, auto, financial services, and FMCG saw gains, while IT, PSU banks, pharma, and real estate sectors posted losses.
On the Bombay Stock Exchange (BSE), 2,586 stocks advanced, 1,344 declined, and 110 remained unchanged.
The top gainers included Adani Ports, NTPC, HDFC, Bajaj Finance, Maruti, JSW Steel, M&M, Axis Bank, Tech Mahindra, and Bajaj Finance. Shares of Titan, SBI, Asian Paints, TCS, HCL Tech, Sun Pharma, IndusInd Bank, and ICICI Bank saw declines.
Rupak De, Senior Analyst at LKP Securities, said, “The Nifty has been consolidating for the past three days following a sharp upward move. On the higher side, it faces resistance at 24,420; a decisive breakout above this level could trigger a significant move toward higher levels. On the lower side, support is positioned at 24,100.”
(with IANS input)
