The Indian benchmark indices closed Wednesday over 0.5% higher. The gains in the indices were led by the IT, metal and pharma stocks. On the other hand, the small-cap stocks outperformed the broader cues. All of Nifty IT, Nifty Pharma and Nifty Metal closed the day over 1% higher. The Indian cues followed their global peers on Wednesday.
The S&P BSE Sensex closed the day at the 51,279.51 levels. It ended the day 254.03 points or 0.50% higher. Only seven of the 30 stocks that constitute the Sensex index tanked, 22 closed in the green, while one stock closed flat. Bajaj Finance and Sun Pharma emerged as the top gainer. Their share price rose by 2.34% and 2.18%, respectively.
Tech Mahindra and Axis Bank are the other stocks to close Wednesday, over 2% higher among the stocks forming the Sensex index. Their share price advanced by 2.06% and 2.02%, respectively. Baja Auto, Infosys, HCL Tech and IndusInd Bank followed. Their share price saw a jump of 1.80%, 1.66%, 1.54% and 1.52%, respectively.
Hindustan Unilever, Mahindra & Mahindra, Dr Reddy’s, and L&T are the stocks to gain more than 1% over the day. The other stocks to close the day in the favourable terrain are Titan, Bharti Airtel, UltraTech Cement, HDFC, TCS, Asian Paint, Nestle India, NTPC, Bajaj Finserv, and ICICI Bank. The share price of SBI closed the day unchanged.
The state-owned ONGC lost the most among all Sensex stocks. Its share price went down by 2.05%. The other stocks to close the red day are Kotak Bank, ITC, HDFC Bank, PowerGrid, Reliance, and Maruti.
The NSE Nifty 50 closed Wednesday 0.51% or 76.40 points higher. It folded the day at 15,174.80 points. As many as 35 stocks that form the Nifty 50 index closed the day higher while the remaining 15 plunged.
Eicher Motor and JSW Steel gained the most. Their share price surged 3.10% and 3.04%, respectively. On the other hand, SBI Life and ONGC closed the day as the top losers. Their share price went down by 3.48% and 1.84%, respectively.
For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in
Engineer by qualification, financial writer by choice. I am always open to learning new things.
The systematic investment plan (SIP) contribution in February 2024 has crossed a new milestone. The monthly contribution tipped at Rs…
The Income-Tax (I-T) Department has directed taxpayers to access the Annual Information Statement (AIS) via the e-filing official portal and…
Considering the vagaries of the stock market, investors often ponder over reevaluating their strategies. Whether to continue to remain invested…
Financial planning is beyond just investing wisely to save on taxes; it's also related to protecting oneself and one's loved…
A salaried individual earning up to Rs 5-15 lakh as net salary on an annual basis must first take stock…
Equity-linked savings schemes (ELSS), also referred to as tax-saving schemes, are equity funds that invest a significant portion of their…