New Delhi: Indian equity benchmarks – Sensex and Nifty – extended their winning run for the fourth straight session on Wednesday, led mostly across sectors.
The 30-share BSE Sensex ended 533 points higher at 61,150, while the broader NSE Nifty ended 157 points higher at 18,212.
Shares of midcap and smallcap firms rose 1.25 per cent in the Nifty Midcap 100 index, while the Nifty Smallcap 100 index gained 0.88 per cent.
Of the 15 sector gauges compiled by the NSE, 12 sectors closed in the green. Nifty Auto and Nifty Metal outperformed the index with gains of up to 1.45 per cent.
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Mahindra & Mahindra was the top Nifty gainer as the stock climbed 4.53 per cent to Rs 879.50. The gainers included Bharti Airtel, IndusInd Bank, Reliance Industries and Hindalco.
On the flipside, Titan, Tata Consultancy Services (TCS), Shree Cement, Britannia and Cipla were among the laggards.
The announcement of results of Infosys, TCS and Wipro was expected to keep the focus on IT stocks. While Infosys closed with a gain of 1.1 per cent, TCS and Wipro closed with a fall of 1.5 per cent and 0.3 per cent, respectively.
Meanwhile, Paytm parent One97 Communications stock was trading 3.22 per cent lower at Rs 1,083 on the BSE, having hit a record low of Rs 1,084.6 earlier in the day.
“Short-term momentum indicates that the market is in complete control of the bulls. The good results expected from the three IT companies today are likely to provide resilience to the market,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
He said that starting Saturday, the results of major banks will also be good due to reduced provisioning and rising net interest margin.
Elsewhere in Asia, markets were trading in the green after closing higher on Wall Street.
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 111.91 crore on Tuesday, according to stock exchange data.
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