Indian benchmark indices Sensex and Nifty traded higher on Wednesday, recovering from the sharp losses recorded in the previous session. The gains were led by banking stocks, while softer-than-expected US inflation data boosted investor sentiment by strengthening expectations that the US Federal Reserve could adopt a less aggressive monetary policy stance in the coming months.
At 10:40 hours, the 30-share benchmark index was trading at 77603.02 up by 548.08 points or by 0.71 % and then NSE Nifty was at 24203.5 up by 151.45 points or by 0.63 %.
Sensex touched intraday high of 77641.86 and intraday low of 77072.53 The NSE Nifty touched intraday high of 24220.35 and intraday low of 24069.05
The top gainers of the BSE Sensex pack were UltraTech Cement Ltd. (Rs. 11810.00,+2.77%), Eternal Ltd. (Rs. 292.25,+2.20%), Bajaj Finance Ltd. (Rs. 1024.50,+1.79%), InterGlobe Aviation Ltd. (Rs. 5200.00,+1.76%), State Bank of India (Rs. 1032.25,+1.72%), among others.
The top losers of the BSE Sensex pack were Power Grid Corporation of India Ltd. (Rs. 282.70,-1.10%), Infosys Ltd. (Rs. 1079.90,-1.09%), Tata Consultancy Services Ltd. (Rs. 2188.60,-0.56%), Hindustan Unilever Ltd. (Rs. 2110.10,-0.49%), NTPC Ltd. (Rs. 346.50,-0.45%), among others.
Bankex index was at 65702.04 up by 681.18 points or by 1.05%. IndusInd Bank Ltd. (Rs. 1018.00,+2.12%), State Bank of India (Rs. 1032.25,+1.72%), Axis Bank Ltd. (Rs. 1337.70,+1.47%), ICICI Bank Ltd. (Rs. 1425.80,+1.28%), Canara Bank (Rs. 127.10,+1.11%),.
IT index was at 27758.92 down by -96.1 points or by -0.35%. Tata Elxsi Ltd. (Rs. 3519.00,-4.90%), VL e-Governance & IT Solutions Ltd. (Rs. 11.95,-2.13%), Zensar Technologies Ltd. (Rs. 518.60,-1.74%), Happiest Minds Technologies Ltd. (Rs. 386.30,-1.72%), Birlasoft Ltd. (Rs. 285.50,-1.38%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4028 , shares advanced were 2602 while 1177 shares declined and 249 were unchanged.