Sensex and Nifty Continue Upward Momentum for Third Consecutive Session, Midcap Stocks Shine
Indian stock markets maintained their positive momentum on Wednesday, marking the third consecutive session of gains for both the Sensex and Nifty.
Mumbai: Indian stock markets maintained their positive momentum on Wednesday, marking the third consecutive session of gains for both the Sensex and Nifty.
Sensex and Nifty Close Higher Amid Renewed Optimism
The 30-share Sensex reached an intra-day high of 75,568.38 before settling at 75,449.05, gaining 147.79 points or 0.20 percent from its previous close. Similarly, the Nifty finished at 22,907.60, up 73.30 points or 0.32 percent. The Nifty traded within a range of 22,940.70 to 22,807.95 during the intra-day session.
Table of Contents
Vikram Kasat from PL Capital highlighted that market sentiment was positive due to mixed global cues and increased optimism surrounding a potential Russia-Ukraine truce. Key global events such as the US Federal Reserve’s policy announcement, Putin-Trump talks, and the surge in gold prices remained in focus, driving market optimism.
Strong Performance in Midcap and Smallcap Stocks
Among the Nifty stocks, 33 out of 50 closed higher, with Shriram Finance, HDFC Life, Apollo Hospitals, Tata Steel, and Power Grid Corporation being the top gainers, seeing gains of up to 3.91 percent.
Conversely, Tech Mahindra, Britannia, TCS, Infosys, and Sun Pharma were among the 17 stocks that closed lower, with losses of up to 2.32 percent.
Also Read: 8th Pay Commission: Central Government Employees Await Pay Hike as Constitution Date Approaches
Broader market indices outperformed the benchmark indices, with the Nifty Midcap100 and Nifty Smallcap100 gaining over 2 percent each, reflecting strong momentum in mid-cap and small-cap stocks.
Sectoral Indices and Currency Performance
Most sectoral indices on the NSE closed in the green, with the exception of Nifty FMCG and IT, which ended lower. At the start of trading, the Sensex rose by 80.04 points or 0.11 percent to reach 75,381.30, while the Nifty edged up by 15.25 points or 0.07 percent to 22,849.55.
Additionally, the Indian rupee strengthened by 12 paise, closing at 86.44 per dollar compared to 86.56 in the previous session.
As the market continues to display positive performance, investors are closely monitoring upcoming global events that may influence market trends in the coming days.
