Indices end higher for 4th straight session; Sensex tops 60,000 mark
Mumbai, August 17, 2022
Benchmark indices ended higher on Wednesday, with the BSE Sensex topping the 60,000-mark as investor sentiments got boosted on softening inflation and strong buying by foreign investors.
At close, the Sensex ended up 417.92 points or 0.70 per cent at 60,260.13, and the NSE Nifty ended 119.00 points or 0.67 per cent higher at 17,944.25. About 2,019 shares advanced, 1,405 shares declined and 132 remained unchanged.
BSE midcap ended up 0.64 per cent, whereas BSE SmallCap and BSE LargeCap closed 0.53 per cent and 0.71 per cent higher, respectively.
BSE IT index and BSE Consumer Durables index ended over 1 per cent up on Wednesday.
Bajaj Finserv, Bajaj Finance, Tech Mahindra, Bharti Airtel, among others were top gainers on the BSE on Wednesday.
"Bulls on Dalal Street kept the momentum going as Sensex zoomed past the psychological 60,000-mark and Nifty inched towards 18,000 level on the back of softening inflation and strong FII buying in the current month. While global factors remain hazy, India is seen as a bright spot in today's challenging times," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Meanwhile, Asian markets were trading mixed on Wednesday following the Wall Street trades overnight.
European markets were trading lower after mixed cues from Wall Street, having struggled to build positive momentum so far this week.
"Bank Nifty is consolidating near 39,500 level where we can expect some profit booking towards 38,700-38,400 zone while if it sustains above 39,500 level then we can expect a move towards 40,000 level," said Santosh Meena, Head of Research, Swastika Investmart Ltd.