Sensex surged 657 points on Wednesday to reclaim the 58,000-mark today amid positive global cues. The index surged for the second straight session and closed 657.39 points or 1.14 per cent higher at 58,465.97. Nifty rose 197.05 points or 1.14 per cent to end at 17,463.80.
Maruti was the top Sensex gainer, rising over 4 per cent, followed by IndusInd Bank, HDFC Bank, Bajaj Finserv, Titan, Wipro, and Bharti Airtel.
Sun Pharma, ITC and PowerGrid were the only Sensex losers, falling up to 0.72%.and
BSE mid cap and small cap indices rose 298 points and 165 points, respectively.
On the sectoral front, consumer durables led the gains today with their BSE index ending 766 points higher at 43,176.
BSE bankex and auto gained 578 points and 573 points, respectively.
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, “Nifty on Feb 8 had tested crucial short term supports where fresh buying interest was seen. The index had taken support near the 78.6% retracement of the recent rise that is 17040 as well as near the lower end of a triangular pattern, which is near 17000. Thereon the index started recovering and the recovery continued on February 9. On the way up, the Nifty has crossed its key hourly moving averages, which are near 17300-17400. This will now act as a near term support zone & as long as the index trades above this zone it can continue its journey on the recovery path. On the higher side, the index can test 17800 in the short term.”
The market breadth was positive with 1,749 shares ending higher against 1,589 stocks in the red. 107 shares were unchanged.
Market cap of BSE-listed firms rose to Rs 266.63 lakh crore against Rs 264.12 lakh crore in the previous session.
In the previous session, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266.
Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1967.89 crore on Tuesday, according to stock exchange data.
Elsewhere in Asia, bourses in Hong Kong, Tokyo, Seoul and Shanghai ended in the positive territory. Stock exchanges in Europe were trading with significant gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude slipped 0.27 per cent to $90.73 per barrel.
