Sensex, Nifty Extend Gains For Fourth Straight Session
NDTV
The Indian equity benchmarks continued to surge on Wednesday after a cautious start led by gains in banking and financial stocks.
New Delhi: The Indian equity benchmarks continued to surge on Wednesday after a cautious start led by gains in banking and financial stocks. The 30-share BSE Sensex climbed 367 points or 0.61 per cent to close at 60,223, while the broader NSE Nifty settled 120 points or 0.67 per cent higher at 17,925. Both indexes notched their fourth consecutive session of gains.
Mid- and small-cap shares finished on a mixed note as Nifty Midcap 100 index rose 0.15 per cent and Nifty Smallcap 100 index fell 0.25 per cent.
"Traders are more hopeful with the Reserve Bank of India's (RBI's) decision to keep the reverse repo rate unchanged in the next policy amid an increase of coronavirus cases in India. The Indian market is gaining strength as a result of the Federal Reserve's hawkish move to enhance economic growth," Gaurav Garg, Head of Research, Capitalvia Global Research Ltd told NDTV.
"Our research suggests that 60,000 (Sensex) may act as an important psychological level in the market. Sustaining above this level can leads to a higher level of 60,500. Technical indicators also support positivity in the market," he added.
