Stock Market Highlights: On Wednesday the Sensex and Nifty continued their last day’s positivity and ended on a positive note. This positive trend was mainly accelerated by banking stocks. Regaining from the last day (Tuesday), the Sensex closed at, 39,250 points, 350 points higher than the previous trading while Nifty closed at 11,570 points with a gain of 100 points. During the last trading day (Tuesday), the Sensex closed 272 points higher at 38,900, while the Nifty increased by 82 points to close at 11,470.
Stock Market: Key highlights from Wednesday’s trading session: –
- The share market rallied on the positive side on the third day of the week.
- Nifty moved up by 100 points to end at 11,570.
- Sensex gained 350 points to finally stand at 39,250.
- Nifty Bank increased by 63 points to finally stand at 23,875.
- Media and metal remained the top sectoral gainers.
- Top gainer of the Nifty50 index: Zee Entertainment and Mahindra & Mahindra (M&M).
- The top loser of the Nifty50 index: Bajaj Auto and Hero MotoCorp.
- Investors are optimistic about metal demand improvement. Thus, metal stocks continue gaining momentum.
- Tata Motors increased by 4 percent.
- Bharti Infratel closed 4 percent down against brokerage expectations.
- Vodafone Idea moved up by 13 percent as against yesterday’s negative trading.
- The stocks of the Adani Group continued to move up by 1 percent to -10 percent.
- The Indian currency closed marginally lower during today’s session, at 73.03 against the US dollar as compared to Tuesday’s close of 72.87.
- The shares of Jubilant Foodworks’ traded at an all-time high of Rs. 2,238.45 apiece on the NSE.
- Zee Entertainment announced to launch Zee Plex. Thus, leading a gain of more than 8 percent in the stocks.
- NMDC reported strong growth in production and sales for the month of August 2020 driven by increased demand from steel companies as domestic steel production continues to improve.
- Torrent Pharma came back in the picture. Investors can buy it with a target of Rs. 3,000 on the upside, keeping a stop loss of Rs. 2,610 on the downside.