Market breadth was quite positive with 1,833 shares gaining while 1,481 shares declined on BSE.
New Delhi: Indian stock benchmarks on Wednesday traded higher in afternoon trades amid a volatile session. The shared BSE Sensex 30 bundle was up 208 points or 0.35% at 60,064, and the broader NSE Nifty was up 62 points or 0.35% higher to 17,867.
Midcaps and small caps were mixed as the Nifty Midcap 100 index gained 0.27% and small caps traded 0.10% lower.
“Indian benchmarks offer a cautious start, given mixed signs globally and an increase in coronavirus infections around the world. Traders can focus on the data that shipments are out. The country’s exports are expected to exceed $400 billion this financial year, which could hit the market as foreign institutional investors (FII) net buy shares worth Rs 1,273.86, while domestic institutional investors (DII) were net buyers of shares worth Rs 532.97 crore on the stock market”, Gaurav Garg, Head of Research, Capitalvia Global Research Ltd told NDTV.
“Our research shows that sustaining above 17,600-17,700 (Nifty) are important levels to stay positive in the market. If the market sustains 17,600-17,700, we can expect to see it. it will trade to the 18,000 level. If the market cannot sustain the 17,600-17,700 level, it can trade until the 17,300-17,500 lower zone,” he added.
On the stock-specific front, Bajaj Finserv was Nifty’s top gainer as the stock rose 4.99% to Rs 17,989.80. Bajaj Finance, Kotak Mahindra Bank, JSW Steel and Indian Oil were also among the gainers.
On the other hand, Tech Mahindra, Wipro, HCL Tech and TCS are among the losers.
Market breadth was quite positive with 1,833 shares gaining while 1,481 shares declined on BSE.
On the 30-stock BSE platform, Axis Bank, ICICI Bank, HDFC Bank, Asian P Paint and Mahindra & Mahindra attracted the most gains with their shares up as much as 2.97% in afternoon trading.
NTPC, Sun Pharma, Reliance Industries and PowerGrid are among the laggards.
Benchmark BSE Sensex gained 673 points or 1.14% to close at 59,856 on Tuesday, while the broader NSE Nifty hit 180 points or 1.02% higher at 17,805.
