The Indian markets on Wednesday snapped a five-day declining streak to close over 1 per cent higher, lifted by auto and IT stocks. Sensex closed almost 575 points higher, while Nifty50 settled over the 17100-mark. Both mid and smallcap closed mixed underperforming the benchmark indices.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

At the market close, the BSE Sensex grew over 574 points or 1.02 per cent to 57037.5, while Nifty50 surged almost 178 points over 1.05 per cent to 17736.5 levels on Wednesday. Nifty midcap closed almost 1 per cent higher and Nifty smallcap slipped marginally by 0.2 per cent at the close.

See Zee Business Live TV Streaming Below:

As many as 38 stocks closed higher on Nifty50, while 12 were lower at the close. Auto stocks such as Tata Motors, Eicher Motors, and Maruti Suzuki were among the top 5 gainers on the Nifty, each surged between 3.5 and 4 per cent at the close.

Oil marketing company BPCL jumped most to become a top gainer on Nifty, up over 4 per cent and cement stocks such as Shree Cement and UltraTech Cement also aided the index by surging between 3 and 4 per cent at the close.

On the contrary, the Bajaj twins – Bajaj Finance and Bajaj Finserv closed as the top losers in an otherwise negative market, each down between 1-3 per cent, followed by ICICI Bank down over 1 per cent, and JSW Steel and L&T each slipped nearly 1 per cent on the NSE.

On the sectoral front, banking, financials, metals, and media witnessed selling pressure marginally, while the Auto index gained most by over 2 per cent, followed by FMCG, IT, and Pharma each up over 1 per cent at the market close today.