Equity benchmarks Sensex and Nifty extended rally for the eighth consecutive session on Wednesday, April 12, propelled by intense buying in IT, healthcare and auto stocks amid sustained foreign fund inflows.
Traders said that the appreciating rupee and the promising start to the European markets helped to further improve the mood.
Tata Consultancy Servces (TCS) is all set to start the fourth quarter earnings season later in the day. Its stocks reaction will reflect tomorrow's trading session after its results. Industrial Production data for February and March inflation rates are scheduled to be announced post-market hours.
The BSE Sensex climbed 235.05 points or 0.39% to settle at 60,392.77. During the day, it jumped 279.92 points or 0.46% to 60,437.64. The broader NSE Nifty finished at 17,812.40 up 90.10 points, or 0.51%. The top-performing Sensex firms included Infosys, Tata Motors, HDFC Bank, Asian Paints, Tech Mahindra, HDFC, Tata Consultancy Services, Sun Pharma, and ICICI Bank. On the other hand, the laggards included PowerGrid, NTPC, Nestlé, UltraTech Cement, State Bank of India, and ITC.
On Tuesday, the Sensex gained 311.21 points, or 0.52%, to close at 60,157.72. The Nifty finished at 17,722.30 after adding 98.25 points, or 0.56%.
International Markets: While Hong Kong closed lower on Asian markets, Seoul, Japan, and Shanghai finished higher. During the afternoon trade, equity markets in Europe were also trading up. In overnight trading on Tuesday, the U.S. markets mainly ended down.
On Wednesday, the rupee increased by 3 paisa to close at 82.09 (provisional) against the dollar. Meanwhile, Brent crude, the benchmark for all other crude oils, increased by 0.35% to $85.91 a barrel.
According to exchange data, foreign portfolio investors (FPIs) added to their Tuesday stock purchases by spending a total of 342.84 crore.
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