Indian stock markets rise sharply in the last 1 hour

16 May 2024 , 07:13 PM

Equity benchmark indices BSE Sensex and NSE Nifty displayed strong recovery on Wednesday (May 16), hitting nearly two-week highs. The 30-share BSE Sensex rose 649.15 points or 0.89% to 73,636.18, while the NSE Nifty closed up 194.10 points or 0.87% at 22,394.65.

Among the Sensex segments, Mahindra & Mahindra, Tech Mahindra, Bharti Airtel, Infosys, Titan Company and JSW Steel emerged as the biggest gainers, posting positive gains. In contrast, Maruti Suzuki India, Tata Motors, State Bank of India, Power Grid Corporation of India, IndusInd Bank and Tata Steel, serving as the biggest laggards, saw significant growth.

In terms of sectoral performance, Nifty Consumer Durables led the gains up 1.7%, closely followed by Nifty IT and Nifty Realty up 1.7% Nifty FMCG also up 0.8% and Nifty Banks and Auto 0.6% each. This is how the climb was spelled. However, the Nifty PSU stock index fell 0.88%.

The broader market also showed a positive trend, with BSE Midcap up 1.07% and BSE Smallcap up 0.85% at the close of trading.

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