The Indian equity markets end Wednesday higher. They were volatile throughout the day and have managed to close in the green. The gains in the indices were as a result of the buying trend that emerged in the last hour of trading. The shares of IndusInd Bank, TCS, ICICI Bank, Reliance Industries (RIL), and HDFC were the most bought at the last minute.
The S&P BSE Sensex rallied 0.86% or 290 points to close Wednesday at 34,247.05 points. The gains in the index were led by IndusInd Bank, as it shot up 46.35% or 9.9%. The shares of Hero MotorCorp lost the most, and it fell 82.30 points or 3.47% to mark the end of Wednesday.
The NSE Nifty 50 closed the day at the 10,116 levels. It rallied 0.69% or 69.50 points. 28 of the 50 stocks constituting the Nifty index advanced while the remaining 22 ended the day in the adverse terrain. The volatility gauge, the India VIC index, dropped 2.54% to end the day at 29.35 levels.
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The stocks of PSU banks were in demand as they shot up the most. The NSE Nifty Bank index ended at the 1,395.50 levels, expanding 3.5% over the day. The NSE Auto index collapsed 1.14% or 75.5 points to close Wednesday at 6,502.65 points. The NSE Nifty Realty index zoomed 1.95% or 3.95 points to settle at the 206.60 levels.
The S&P BSE SmallCap index jumped 108.99 points or 0.92% to settle the day at 11,955.04 levels. The S&P BSE MidCap index saw a rise of 0.81% or 101.84 points to close the day at 12,659.34 points. 15 of the 30 stocks of the S&P BSE Sensex ended in the green while the remaining 15 tanked today.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
