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New Delhi: Domestic equity markets closed positive on Wednesday for the sixth consecutive session BSE SENSEX Banking and realty stocks are rising more than 250 points.
The 30-share BSE Sensex rose 284 points or 0.84 percent to close at 34,109; While the broader NSE Nifty rose 82 points or 0.83 percent to close at 10,062.
The top Sensex stocks include M&M, Bajaj Finance, Kotak Bank, Nestle India, SBI and ONGC, which have gained 5.51 per cent.
While NTPC, IndusInd Bank, Bharti Airtel and Maruti topped, falling by 1.96 percent.
On the NSE platform, sub-indices Nifty PSU Bank and Realty gained 5.12 per cent.
Analysts said the market remained bullish as the benchmark indices gained momentum due to foreign exchange inflows and positive global cues.
He encouraged Prime Minister Narendra Modi’s comments that India’s economy will be back on track as the government is working towards systematic reforms and at the same time has fueled investor sentiments.
“The market is the first stop of the quarter, looking at the market,” Rusik Ojha, head of fundamental research at Kotak Securities, told news agency Reuters.
He said, “First quarter results will still play an important role as no one knows the extent of the loss and will be a reality check. Even if the market maintains these highs, we will see a slowdown during the next earnings season. ”
Meanwhile, the rupee lost 11 paise against the US dollar to close at 75.47, with all intra-day gains surrendered, while domestic equities traded in positive territory.
On a net basis, foreign portfolio investors bought equities worth Rs 7,498.29 crore in the capital market on Tuesday, the temporary exchange showed.
(With agency inputs)
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