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The BSE Sensex jumped 194 points to close above the 53,000-mark for the first time on Wednesday, thanks to a late-hour buying in index heavyweights, led by financials and metals.
Benchmark indices, after moving in a narrow range during the first half amid weak global cues and a lack of domestic triggers, spurted on buying during closing hours. Investors now await the Q1-FY2022 result season. Tomorrow, IT bellwether Tata Consultancy Services will declare its Q1 results.
The BSE Sensex closed above the 53,000-mark at 53,054.76, up 193.58 points or 0.37 per cent. It hit an intra-day high of 53,105.41 and a low of 52,751.76.The Nifty 50 closed at 15,879.65, up 61.40 points or 0.39 per cent. It hit an intra-day high of 15,893.55 and a low of 15,779.70.
The breadth of the market turned positive with 1,787 stocks advancing, 1,411 declining and 148 remaining unchanged on the BSE. As many as 438 securities hit the upper circuit and 251 the lower circuit; 415 hit their 52-week high while 15 touched a 52-week low. Binod Modi, Head Strategy at Reliance Securities, said, “Domestic equities remained resilient and shrugged off weak global cues as persistent traction in financials continued to lend support to markets. Notably, sharp rise in crude prices and strengthening dollar index weighed on sentiments in recent weeks. Resultantly, FIIs turned out as net sellers. However, improving business momentum with ease of business curbs started offering comfort,”said Modi.
Tata Steel, JSW Steel, Hindalco, Bajaj Finserv and UPL were the top gainers on the Nifty 50 while Titan, ONGC, Maruti, SBI Life and Reliance were the top laggards.
Financials, metals shine
On the sectoral front, all indices, except auto and media closed in the green.
Metals, realty and financials led the rally. Nifty Metal recorded the highest gains and was up 2.20 per cent at closing. Nifty Realty was up 1.96 per cent.
Nifty Bank was up 0.54 per cent while Nifty Financial Services was up 0.61 per cent. Nifty Private Bank and Nifty PSU Bank were up 0.55 per cent and 0.44 per cent, respectively.
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