Stock markets close on high note

MUMBAI: The stock markets closed in the positive territory on Wednesday with indices surging during the final hours of trading after a volatile trading session.

The Sensex, which experienced a dip earlier in the day, rebounded and closed up by 149.31 points at 65,995.81 points. Similarly, the Nifty recorded a rise of 61.70 points, closing at 19,632.55 at the time of market closing.

The market’s performance showcased a pattern, with 26 shares advancing, 23 shares declining, and two shares remaining unchanged.

Among the top gainers were Dr Reddy’s, Adani Ports, SBI Life, Coal India and Adani Enterprises, contributing significantly to the upward trajectory of the indices.

On the other hand, Maruti, Hindustan Unilever, Reliance, IndusInd Bank, and Hero Motocorp were among the top losers, highlighting the varied trends within the market.

Varun Aggarwal, founder and MD, Profit Idea, said, “The rally was much on the anticipated lines. Broader market is showing lot of strength and momentum is expected to continue. Most midcap and small cap stocks are also showing breakout and can continue its upward journey. Selected stocks in mid cap and small cap space can multiply even from current levels”.

“Lot of positives for Indian economy, investors should trust the future outlook and stay invested. Most indicators are still not suggesting any big fall. Market sentiment and technical structure look quite promising”, Aggarwal said.

The market opened in minus and strength in pharma, media, metals and consumer durables helped the index to rebound and close on a day’s high. (ANI)