Sensex soars above 51,000 mark; IT, finance stocks sparkle
The BSE Sensex returned to winning ways on Wednesday after a day's pause as technology, finance, and auto counters witnessed robust buying amid a largely positive trend in Asian markets. Overcoming a tepid start, the 30-share benchmark gained momentum through the session to end 379.99 points or 0.75 percent higher at 51,017.52. The Sensex reclaimed the 51,000 level after March 10 this year.
Who were the top gainers and losers?
The broader NSE Nifty extended its winning run to the fourth consecutive session, climbing 93 points or 0.17 percent to finish at 15,301.45. Bajaj Finserv was the top performer in the Sensex pack, rallying 4.82 percent, followed by Bajaj Finance, Infosys, Maruti, HDFC, L&T, Tech Mahindra, and M&M. PowerGrid, NTPC, ONGC, Kotak Bank, Dr. Reddy's, HDFC Bank, ITC, and Bharti Airtel were the losers.
Most key sectoral indices traded in the green
"Domestic equities remained upbeat as improved visibility about economic recovery from 2QFY22 continued to lift investors' sentiments," said Binod Modi, Head of Strategy at Reliance Securities. Barring metals, most key sectoral indices traded in the green. IT stocks witnessed a sharp rebound after positive commentary of select managements about strong execution delivery despite the second wave of the pandemic, he added.
Brent crude is trading at $68.50 per barrel
Elsewhere in Asia, bourses in Shanghai, Hong Kong, and Tokyo ended on a positive note, while Seoul was in the red. Equities in Europe were trading on a mixed note in mid-session deals. As Wall Street in the US recovers from the economic loss due to the pandemic, international oil benchmark Brent crude was trading at $68.50 per barrel.
