Indices continue the strong run with a gain of 0.6% as Sensex closes at around 61,000 and Nifty above 18,150
Indian benchmark indices continued their strong run with a gain of around 0.6% with foreign investors turning as net buyers of domestic shares helping the sentiment.
Sensex went above 61,000 intraday but ended slightly below the mark at 61,045, a jump of 390 points. Nifty also closed higher at 18,165, a gain of 112 points.
Metal index led the rally and soared more than a per cent. Pharma and Financial Services made decent gains. PSU Bank shed more than per cent. Realty, Auto and Energy indices closed flat.
The rally was led by Hindalco, Tata Steel and L&T which climbed by more than 2%. UPL and Wipro also ended in the green with a gain of above 1.5% each. Adani Enterprises, Tata Motors, HDFC Life and Ultratech Cement shed more than a per cent in today’s session.
Asian indices had a mixed day with Tokyo stocks closing higher. Investors were relieved after the Bank of Japan kept its monetary easing policies unchanged, sending the yen cheaper. The benchmark Nikkei 225 index climbed 2.5%, while the broader Topix index added 1.68%.
During the early afternoon trade, the Japanese central bank said there would be no change to its longstanding ultra-loose policies, bucking heavy speculation that it could again tweak a key lever.
China stocks seesawed in thin trading volume on Wednesday as many urban workers left ahead of the Lunar New Year holidays and with some investors booking profits on concerns of any uncertainty when markets are closed for the festival.
China’s blue-chip CSI 300 Index slipped 0.2% and the Shanghai Composite Index ended almost flat. Hong Kong’s Hang Seng Index and the Hang Seng China Enterprises Index edged up 0.5% and 0.4%, respectively.
European shares advanced as risk appetite was supported by a slew of positive earnings updates, setting the benchmark index on track for its longest winning streak since November 2021. The pan-European STOXX 600 was up in the morning boosted by rate-sensitive technology stocks.
UK’s FTSE 100 edged higher on Wednesday to scale a fresh 4-1/2-year high after data showed consumer inflation eased more than expected in December, although worries over tight monetary policy remained as the rate hovered in double-digit territory.