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On Wednesday, India's benchmark indices closed on a high, with the Sensex surging 901.50 points, or 1.13 per cent, to close at 80,378.1, while the Nifty jumped 270.75 points, or 1.12 per cent, to reach 24,484.05, according to PTI. This rally was primarily led by strong performances in IT stocks, buoyed by an overnight rally in the US markets, and supported by gains across all sectoral indices.
The standout sector was the IT index, which recorded an impressive gain of over 4 per cent, making it the top-performing sector of the day. According to PTI, banking stocks also contributed positively, with the Nifty Bank index, which includes 12 major banking stocks, adding 110.15 points or 0.21 per cent to close at 52,317.40. Market sentiment remained positive across other sectors as well, with even the broader markets showing robust gains.
Midcap and small-cap stocks mirrored the positive momentum, as the Nifty Midcap 100 and Smallcap 100 indices rose by 2.21 per cent and 2.18 per cent, respectively. The India VIX, a volatility index commonly referred to as the "fear gauge," recorded a significant decrease, dropping over 8 per cent to settle at 14.80, indicating a decline in market uncertainty.
Among the top gainers in the 30-share Sensex pack were major players like TCS, Infosys, HCL Technologies, Tech Mahindra, Adani Ports, L&T, Maruti, Reliance Industries, Sun Pharma, NTPC, Airtel, and Tata Steel. On the other hand, stocks like Titan, IndusInd Bank, Hindustan Unilever, Axis Bank, and HDFC Bank ended the session with losses, according to PTI.
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This positive close followed Tuesday's gains, during which the Sensex had risen by 694.39 points, or 0.88 per cent, to close at 79,476.63, while the Nifty added 217.95 points, or 0.91 per cent, ending at 24,213.30.
Foreign Institutional Investors (FIIs) sold equities worth Rs 2,569.41 crore, while Domestic Institutional Investors (DIIs) bought shares worth Rs 3,030.96 crore, according to PTI. This buying by domestic institutions bolstered investor confidence, fuelling a broad-based rally across multiple sectors.
(With inputs from PTI)
