Sensex, Nifty Bounce Back Strongly As FMCG, Realty And PSU Bank Stocks Rally
Mumbai: Indian equity benchmarks ended higher on Wednesday, snapping a two-session losing streak as buying in FMCG, realty and public-sector banking shares supported a market recovery. Softer crude oil prices also improved investor sentiment before the US Federal Reserve’s policy decision, although caution around its interest-rate guidance kept overall gains measured. Sensex And Nifty Close…
Mumbai: Indian stock indices bounced back strongly on Wednesday, reversing a two-day decline as FMCG, real estate, and public sector bank stocks rallied. Softer oil prices boosted investor confidence before the US Federal Reserve's policy decision. Sensitivity to the Fed's interest-rate guidance, however, kept gains modest. The BSE Sensex climbed 332.63 points, or 0.45%, to 74,336.45, while the NSE Nifty rose 99 points, or 0.43%, to 23,217.60.
Key gainers included HDFC Life Insurance, ITC, and SBI Life Insurance, which helped support the benchmarks. Despite the rally, the broader market remained cautious. The Nifty MidCap fell 0.01%, and the Nifty SmallCap declined 0.18%. Sectoral performance was uneven, with FMCG, PSU banks, and real estate leading the charge, while technology and pharmaceutical stocks faced selling pressure.
Technical analysis indicated that the 23,300–23,400 range continues to act as a ceiling for the Nifty's recovery. A sustained break above 23,500 would be needed to solidify the upward momentum.
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- Sensex Jumps Over 500 Points, FMCG And Banking Stocks Drive Market Rally freepressjournal.in
