Synopsis : Indian equities extended their winning streak on Wednesday as IT and FMCG sectors drove gains. Ola rallied 12% while Nazara slid 6%, keeping investor sentiment mixed.
Mumbai: Indian stock markets traded with modest gains on Wednesday, continuing their upward momentum for the fifth straight session. Positive cues from IT and FMCG sectors kept indices in the green, while select financials and autos faced selling pressure.
At close to midday, the BSE Sensex stood at 81,730, up 86 points or 0.11%, while the NSE Nifty50 climbed 14 points or 0.06% to 24,994, inching closer to the 25,000 mark.
Top Movers:
Gainers: Infosys, NTPC, Tata Steel, Hindustan Unilever, and Eternal supported the indices with steady gains.
Losers: Bajaj Finance, Tata Motors, BEL, Trent, and Bajaj Finserv dragged markets lower.
Broader Markets:
The Nifty Midcap100 advanced 0.34% and the Smallcap100 added 0.2%, reflecting consistent investor interest beyond large caps.
Sectoral Trends:
Performance remained mixed across sectors. Nifty IT and FMCG outperformed, while Pharma and Financials saw weakness. Meanwhile, Ola shares surged 12%, contrasting with Nazara Technologies’ 6% drop.
IPO Buzz:
The primary market remained active:
Patel Retail, Vikram Solar, Gem Aromatics, and Shreeji Shipping Global IPOs entered their second day of subscription.
Mangal Electrical Industries IPO opened for bidding.
Regaal Resources listed on exchanges today.
In the SME segment, Studio LSD IPO closed for subscription, while LGT Business Connextions entered its second subscription day.
With the Nifty inching closer to 25,000, investors remain watchful of sectoral rotations and IPO activity.
Disclaimer : This article is for informational purposes only and does not constitute financial advice. Investors should consult professional advisors before making investment decisions.
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