The benchmark indices ended with marginal gains on Wednesday with a good showing by financials and select pharma stocks, while Delhivery slid close to 3%.
The Sensex closed at 61,510.58, up 91.62 points from Tuesday, while the Nifty50 ended up 23.05 points at 18,267.25.
Adani stocks had a disappointing run, too, with Adani Enterprises losing 3.4% and Adani Ports down 1.41% on the Nifty. Apollo Hospitals was the top gainer, rising 3.14%.
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State Bank of India led the Sensex pack with a gain of 1.44%. Bajaj Finance rose 1.41%. Dr. Reddy’s gained 1.04% and Sun Pharma rose 0.73%, among the pharma majors. IT stocks, however, ended in the red, with Infosys and TCS declining 0.14% and 0.12%, respectively. Tech Mahindra was the biggest loser among IT stocks, falling 0.66%, while HCL Tech and Wipro declined as well.
FIIs were net sellers to the tune of ₹789.86 crore while DIIs were net buyers, recording ₹413.75 crore, according to data from the exchanges.
Brent Crude was trading at close to $86/barrel as of 6:32pm (IST) as the G7 nations were looking at a price cap on Russian oil above the levels crude grade is currently trading at, according to a Reuters report.
“Domestic equities were in positive territory throughout the session in line with global peers. The Nifty opened higher, but last-hour selling dragged the index down to close with marginal gains. PSU banks, defence and fertiliser stocks were in action. Most of the fertiliser stocks rallied after India’s import from Russia surged 371% in H1FY23. Globally, investors will keenly await the Fed’s minutes, due to be released on Thursday, which will set the tone for US Federal Reserve’s meeting in December. Back home, domestic markets might see some action on the back of F&O monthly expiry and macro data to be released globally,” said Siddhartha Khemka, head – retail research, Motilal Oswal Financial Services.
Sectoral indices also ended in the green, with the Bank Nifty gaining 272.05 points, or 0.64%, to close at 42,729.10. The Nifty Next 50 gained 81.10%, while the Nifty Financial Services rose 0.51%. The BSE 100 gained 0.15%.
