Delhi, 15 October (H.S.): The Indian equity markets broke a two-day losing streak on Wednesday, concluding the session with significant gains after a day of range-bound but ultimately bullish trading. Investor wealth surged by approximately ₹4.29 lakh crore, driven by broad-based buying that intensified after the first hour of volatility.
The benchmark indices, Sensex and Nifty, closed with gains of 0.70% and 0.71%, respectively.The market sentiment was buoyed by several positive domestic and global cues. These included indications of a potential interest rate cut by the US Federal Reserve, a decline in the India Volatility Index (India VIX), softening crude oil prices, a strengthening Indian rupee against the US dollar, and robust signals from international markets.
All sectoral indices on the stock market ended the day in the green, reflecting widespread buying interest. The Realty, Public Sector Enterprise, and Banking sectors led the rally with the most substantial gains. Additionally, the IT, Auto, Capital Goods, Consumer Durables, FMCG, Healthcare, Metal, Oil & Gas, and Tech indices all closed on a positive note.
The broader market also participated in the upward trend, with the BSE Midcap index rising by 1.07% and the Smallcap index climbing 0.78%.The strong market performance translated into a significant increase in investor wealth. The total market capitalization of BSE-listed companies climbed to ₹463.96 lakh crore (provisional) by the end of Wednesday’s session, up from ₹459.67 lakh crore on the previous trading day.
Market breadth was firmly in favor of advancers. On the BSE, 2,510 stocks closed higher, while 1,652 declined, and 164 remained unchanged. On the NSE, 1,789 shares advanced, and 1,045 shares ended in the red. Among the blue-chip stocks, 23 of the 30 Sensex components and 38 of the 50 Nifty constituents finished with gains.The BSE Sensex opened stronger at 82,197.25 and hit an intraday high of 82,727.02.
After some profit-taking, the index settled at 82,605.43, marking a gain of 575.45 points. Similarly, the NSE Nifty started at 25,181.95, surged to a high of 25,365.15 during the day, and finally closed at 25,323.55, up by 178.05 points.Leading the pack of gainers were Bajaj Finance (4.00%), Nestle (3.90%), Bajaj Finserv (3.20%), Asian Paints (2.46%), and HDFC Life (2.37%). On the losing side were Tata Motors (1.16%), Bajaj Auto (1.15%), Infosys (1.04%), Tech Mahindra (0.61%), and Axis Bank (0.61%).
Hindusthan Samachar / Jun Sarkar
