The country’s stock market extended its gains for the third consecutive trading session on Wednesday, supported by positive global cues. Both benchmark indices closed higher, continuing the upward trend seen earlier in the week.
The Sensex rose 0.33 per cent, or 283 points, to reach 83,734 on the Bombay Stock Exchange. The Nifty50 gained 94 points, or 0.37 per cent, taking the National Stock Exchange’s main index to 25,819.
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Broad-based buying lifts mid- and small-cap stocks
Mid-cap and small-cap indices also posted gains during Wednesday’s session. The BSE 150 Mid Cap Index rose 0.50 per cent, while the BSE 250 Small Cap Index increased 0.39 per cent.
Several sectoral indices recorded positive movement. Nifty Metal emerged as the top performer, while PSU banks also registered notable gains. Other sectoral indices, including FMCG, Capital Market, Oil and Gas, Infrastructure, Financial Services, Auto, Energy, and Pharma, closed in positive territory. The only sectoral index to decline was Nifty IT.
Heavyweight stocks drive late recovery
The market had a cautious start, with heavyweight IT stocks facing selling pressure, which kept the Sensex and Nifty50 volatile in early trade. However, as the session progressed, gains in other heavyweight stocks supported the benchmark indices.
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Commenting on the trend, Vinod Nair, Research Head at Geojit Financial Services, said that after a cautious start, buying interest picked up across various sectors in the country’s stock market as the session progressed. He noted that this broad-based buying supported the overall growth. According to him, banking and financial stocks performed well, while gains in several FMCG stocks also helped lift the benchmark indices.
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