The BSE Sensex is up by 214.84 points or 0.30 per cent at 71,652.03, and the Nifty is up by 75.90 points or 0.35 per cent at 21,529.00 as of 12:09 pm on Wednesday.
Commenting on the outlook for Nifty, Anand James, chief market strategist at Geojit Financial Services, said, “The turnaround from the 21,360-320 region marked the completion of downswings as suspected. Even though we saw a pull-back from the highs towards close, the long-legged doji points to a rejection of bears, clearly bringing the 21,600/660 objectives back in contention, as pencilled in yesterday. This also elevates the possibility of an extension of the uptrend to 21,850 or even 22,500, but given the acute overbought conditions, we are conscious of impending volatility. Downside markers for the day may be placed near 21,440.”
On the BSE, 3,804 stocks were traded as of 12:12 pm, of which 1,958 stocks advanced, 1,687 declined, and 159 were unchanged. 335 stocks hit a 52-week high, while 13 stocks hit a 52-week low.
Stocks that gained on the NSE include: ONGC, Tata Consumers, Wipro, Hero Motocorp, and LTIMindtree. Top losers were HCL Technologies, Tata Steel, Axis Bank, Adani Ports, and Sun Pharma.
Major stocks that hit a 52-week high on the NSE were SAL Steel, Hindcon Chemicals, CL Educate, Oil India, Nectar Lifesciences, and Varun Beverages.