The Wednesday market closing has proven positive for both the benchmark indices as the Sensex gained 260.59 points or 0.74 per cent to close at 35,547.33 while the Nifty rose by 61.60 points or 0.58 per cent to close at 10,772.05.
The Nifty did well to open with a positive gap of 24 points despite the Dow being down by 287 points. This happened essentially because the Dow Futures was already down by 400 points when the markets closed on Tuesday. So, this came as good news for the market.
Asian and European markets were up and the Dow Futures was quoting in the green, suggesting a green day tomorrow as no adverse reaction came from China.
Meanwhile, at the BSE, Reliance Industries, IndusInd Bank, Yes Bank, Kotak Mahindra and Tata Steel were the top gainers and ONGC, Dr Reddy’s Laboratories, Coal India, ITC and Wipro in the most losing terms.
The NSE exhibited Reliance, Vedanta, IndusInd Bank, Kotak Mahindra and HDFC Bank in the ruling terms whereas UPL, HPCL, ONGC, Dr Reddy’s Laboratories and HCL Tech as the major losers.
The Indian Rupee opened strong with a gain of 30 paise but lost some traction by the time the equity markets closed. It was stronger by 24 points at Rs 68.14 to the dollar. At the end of the trading day, Indian rupees was in downcast, losing 0.2850 paise over the US Dollar to stand at Rs 68.0950, at the time of writing the report.
In the BSE Mid Cap, the indices gained 36.16 points or 0.23 per cent to close at 15,851.90 and Small Cap rallied by 45.31 points or 0.27 percent to stand 16,659.05 while filing this report.
At the closing of the global market, Nikkei, CAC 40, FTSE 100, Shanghai Composite, DAX and Hang Seng hiked by 1.24 per cent, 0.43 per cent, 1.26 per cent, 0.27 per cent, 0.49 per cent and 0.90 per cent, respectively, at the time of filing this report.
The commodities sector was losing at the end of the trading session in which gold went down by Rs 64 or 0.21 per cent to close at Rs 30,827 per 10 grams while Brent Crude went down by Rs 62 or 1.38 per cent to close at Rs 4419 per bbl.
In the banking sector, Axis Bank, State Bank of India and HDFC Bank secured 2.40 points or 0.46 per cent, 0.85 points or 0.31 per cent and 30.30 points or 1.50 per cent, respectively.