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Sensex, Nifty resume relief rally; auto, IT stocks lead gains


The Indian market ended higher on June 23 led by gains in auto and IT shares amid mixed global cues. Sensex rose 443 points to 52,265 and Nifty ended 143 points higher at 15,556. The market cap of BSE-listed firms rose to Rs 239.64 lakh crore against Rs 237.19 lakh crore in the previous session.

Maruti, M&M, Asian Paints and Bharti Airtel were the top Sensex gainers, rising up to 6.33 per cent. Reliance, NTPC, PowerGrid and UltraTech Cements were the Sensex losers, falling up to 1.62 per cent.

Auto and IT stocks were the top sectoral gainers with their BSE indices ending 1,097 pts and 518 points higher, respectively.

Mohit Nigam, Head-PMS, Hem Securities said, “European markets were trading lower after a survey showed euro zone business activity slowed significantly in June, adding to fears of a sharp economic downturn, while sliding oil and metal prices hit commodity-linked stocks. On the technical front 15,300 and 15,700 are immediate support and resistance in Nifty 50. For Bank Nifty 32,600 and 33,500 are immediate support and resistance, respectively.”

Share Market update: Sensex rises 443 pts, Nifty ends above 15,550; Maruti, M&M top gainers

Market breadth was positive with 2,096 stocks ending higher against 1208 stocks falling on BSE. 130 shares were unchanged. Meanwhile, rupee settled at a record low of 78.32 against the US dollar.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 2,920.61 crore on Wednesday, as per exchange data.

In the previous session, Sensex tanked 709 points to 51,822 and Nifty ended 225 points lower at 15,413. The market fell after two sessions of gains.

Global markets

Elsewhere in Asia, stock markets in Hong Kong, Shanghai and Tokyo ended with gains while Seoul settled lower. European markets were trading in the red in mid-session deals.

The US markets ended marginally lower on Wednesday. Meanwhile, international oil benchmark Brent crude declined 1.92 per cent to $109.60 per barrel.

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