Sensex Rallies 773 Points, Nifty Settles Above 25,250; Auto, PSU Bank Stocks Lead Gains

Sensex Rallies 773 Points, Nifty Settles Above 25,250; Auto, PSU Bank Stocks Lead Gains


News business markets Sensex Rallies 773 Points, Nifty Settles Above 25,250; Auto, PSU Bank Stocks Lead Gains

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The Sensex settles at 81,879.40, gaining 772.75 points, or 0.95%, while Nifty ends at 25,255.05, rising 210.40 points, or 0.84%.

Stock Market Today.

Stock Market Today.

The domestic equity markets ended Wednesday’s session on a positive note, recovering from a sharp intraday correction as buying in banking, automobile and select heavyweight stocks helped indices regain some lost ground towards the close.

The Sensex settled at 81,879.40, gaining 772.75 points, or 0.95%. The index had surged as much as 1,414 points during the morning session to hit an intraday high of 82,520.40 before witnessing significant profit booking. It subsequently slipped to an intraday low of 81,417.39, before staging a recovery towards the close.

The Nifty ended at 25,255.05, rising 210.40 points, or 0.84%. The index touched an intraday high of 25,424.35 and a low of 25,095.35, surrendering a significant portion of its early gains.

The benchmarks had opened sharply higher, with the Sensex surging over 1,100 points and the Nifty crossing the 25,300 mark. However, profit booking at higher levels dragged the indices lower during the afternoon session. A late recovery helped both benchmarks finish comfortably in positive territory.

Buying interest was visible across several sectors, with the Nifty Auto index emerging as one of the top performers, advancing 2.14%. The Nifty PSU Bank index surged 2.94%, while the Nifty Bank gained 1.76%.

The Nifty Chemicals index also climbed 2.10%, followed by Nifty MidSmall Financial Services, which advanced 1.69%. FMCG, consumer durables, metals and oil and gas stocks also ended higher.

However, IT, pharma and realty stocks remained under pressure. The Nifty IT index declined 0.53%, while Nifty Pharma and Nifty Realty fell 0.41% and 0.42%, respectively.

Broader market indices also ended higher, with smallcap stocks outperforming frontline benchmarks. The Nifty Smallcap 100 advanced 1.59%, while the Nifty Midcap 100 gained 0.81%. The Nifty 500 ended 0.90% higher.

The Nifty Microcap 250 was among the biggest gainers in the broader market, rising 1.87%.

Meanwhile, the India VIX, which measures expected market volatility, rose 0.86% to 17.57, suggesting that some uncertainty persisted despite the positive close.

Vinod Nair, head of research at Geojit Investments, said, “Indian equities opened higher on positive global cues, tracking gains in US tech stocks, even as hawkish remarks from Fed officials pushed global yields higher while the latest US CPI print reinforced expectations of a December rate hike. The rupee’s recent appreciation, supported by sustained foreign inflows and softer crude prices, together with expectations of higher-for-longer global rates, weighed on IT stocks and caused large caps to gradually give up their early gains.”

He, however, added that small caps helped the broader market to outperform, while rotation out of defensive pharma stocks into autos and banks suggested risk appetite was returning. Whether this renewed risk appetite holds will depend on upcoming India’s October inflation and US PPI data, which together should shape the outlook for domestic prices and global interest rates.

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The Sensex settled at 81,879.40 with an increase of 772.75 points or 0.95%, while the Nifty ended at 25,255.05 after rising 210.40 points or 0.84%.

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