Banks led the gainers’ chart as intense buying was visible across the financials space. The Bank Nifty and Nifty PSU bank index were one of the top gainers. Additionally, metals, too, were one of the strong gainers, up over 1.5 percent. Other gainers included auto, FMCG, infrastructure and IT as well. In the broader markets, midcaps saw very good upmove. The Nifty Midcap index rose over a percent. The rupee, meanwhile, hovered around 70.01 levels.
At the close of market hours, the Sensex ended up 442.31 points or 1.16% at 38694.11, while the Nifty rose 134.90 points or 1.17% at 11692.00. The market breadth is positive as 1,431 shares advanced, against a decline of 1,282 shares, while 207 shares were unchanged.
Bharti Airtel, Power Grid Corporation, and Hindalco were the top gainers, while Sun Pharma and Bajaj Finserv lost the most.
HEADLINES OF THE DAY
LIC Housing down 5% despite better Q1 nos.
RIL gains 1% on report of Jio becoming second-largest telco by revenue market share.
The crucial resistance for Nifty spot is now seen at 11750 and above this 11900 Support for the immediate term is now placed at 11550 next support will be 11350.
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Oil prices fell on Wednesday as a tropical storm hitting the U.S. Gulf coast weakened and had a lower impact on production than initially expected.
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