Equity benchmarks closed higher on Wednesday amid buying in banking counters and a firm trend in global markets. Extending gains for the second straight session, Sensex gained 91.62 points or 0.15 per cent to end at 61,510.58. During the day, the index jumped 361.94 points or 0.58 per cent to 61,780.90. Nifty rose 23.05 points or 0.13 per cent to end at 18,267.25.
State Bank of India (1.44%), Bajaj Finance (1.41%) , Dr Reddy's (1.31%), Maruti (0.74%), Kotak Mahindra Bank (0.71%) and Sun Pharma (0.76%) were the top Sensex gainers.
Power Grid (1.24%), Tech Mahindra (0.66%), Bharti Airtel (0.54%), HUL (0.48%) and Bajaj Finserv (0.44%) were among the top losers.
Market breadth was positive with 1,850 shares closing higher against 1647 stocks falling on BSE. 130 shares were unchanged.
Kunal Shah, Senior Technical Analyst at LKP Securities said, "Bears continued to hold their grip and the index saw selling pressure around the resistance zone of 18,300-18,350. The options data indicates a hurdle at 18,300 where the highest open interest is built up a day before the monthly expiry. The index lower-end support is visible at 18,200-18,150 which will act as a cushion for the bulls. The bulls need to cross the level of 18,350 decisively to continue the momentum on the upside toward the 18500 level."
Banking and oil and gas shares were the top gainers with their BSE indices rising 323 points and 133 points, respectively. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 697.83 crore on Tuesday, as per exchange data.
The Indian market closed higher after three sessions on Tuesday amid buying in index majors Infosys and Reliance Industries. Sensex rose 274.12 points or 0.45 per cent to end at 61,418.96. During the day, it jumped 321.79 points or 0.52 per cent to 61,466.63. Nifty climbed 84.25 points or 0.46 per cent to end at 18,244.20.
Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended higher. Equity exchanges in Europe were trading mostly in the green in the afternoon trade. Wall Street had ended higher on Tuesday. International oil benchmark Brent crude was trading 1.05 per cent higher at $89.29 per barrel.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today