New Delhi: Benchmark stock market indices closed higher on Wednesday, ending their recent slump as trade talks between the US-China and rate-cut expectations from RBI induced positive market sentiment.
The S&P BSE Sensex added 261 points to end at 80,998.25, while the NSE Nifty50 was up by 77.70 points to close at 24,620.20.
Eternal was the top performer, surging 3.32%, followed by Bharti Airtel which climbed 1.82%. IndusInd Bank also gained 1.79%, while Tech Mahindra rose 1.25%. Reliance Industries rounded out the top five gainers with an increase of 1.23%.
Bajaj Finserv plummeted 1.56%. Axis Bank also faced heavy selling, retreating 0.90%, while Tata Consultancy Services fell 0.72%. Titan Company Limited declined 0.60%, and Larsen & Toubro completed the list of worst performers with a loss of 0.58%.
The sectoral indices on NSE closed with broad-based gains across most segments. Nifty Midcap100 rose 0.71% and Nifty Smallcap gained 0.79%. The India VIX fell sharply by 4.89%, showing reduced fear in the market.
Most sectors ended in positive territory. Nifty Oil & Gas was the top performer, climbing 0.87%, followed by Nifty Smallcap 100 at 0.79% and Nifty Realty gaining 0.70%.
Other gainers included Nifty Metal up 0.60%, Nifty IT rising 0.33%, Nifty Auto advancing 0.27%, Nifty Consumer Durables gaining 0.23%, Nifty Healthcare up 0.21%, Nifty Media rising 0.19%, Nifty FMCG gaining 0.13% and Nifty Private Bank up 0.08%.