Wednesday Market Highlights: The Sensex and Nifty discontinued their last day’s negativity and ended on a positive note for the third trading day of the week. The session remained on a flat note on Wednesday after gains from FMCG, pharma, and IT. The Sensex closed at, 38,068 points, 95 points higher than the previous trading while Nifty closed at 11,248 points with a gain of 25 points. During the last trading day (Tuesday), the Sensex closed 8 points lower at 37,973 points, while the Nifty decreased by 5 points to close at 11,222 points.
Stock Market: Key highlights from Wednesday’s trading session: –
- The share market discontinued their last day’s negativity and ended on the positive side for the third day of the week. The session remained on a flat note on Wednesday after gains from FMCG, pharma, and IT.
- Nifty moved up by 25 points to finally stand at 11,248 points.
- Sensex gained 95 points to finally stand at 38, 068 points.
- Midcap Index moved up by 9 points to finally stand at 16, 983 points.
- Nifty Bank closed 41 points higher at 21,452 points.
- Bharti Airtel and Reliance Industries dragged down the nifty.
- Reliance Industries traded in the negative.
- Metals performed under pressure due to concerns of demand persist.
- Tata Steel stood as the top loser.
- The Rs 600-crore initial public offering (IPO) of Angel Broking was overall subscribed 3.94 times on its final day. It was open for subscription between September 22 and 24. The price band was fixed at Rs 305-306.
- It is likely to be listed on October 5. Moreover, the retail portion received 4.31 times the subscription while qualified bidders subscribed 5.74 times.
- HDFC’s gain on management’s comment of business being back to the pre-COVID level.
- BPCL stood as the top Nifty loser.
- Panacea Bio traded in the red.
- The Indian currency ended higher on Wednesday amidst positive equity markets. The rupee settled at 73.76 against the US dollar as compared to Tuesday’s close of 73.85.