Nifty Rises For Fifth Consecutive Session As ITC, Airtel, HUL Lead Gains: Market Wrap
Nifty settled 0.29% higher at 24,770.20, and Sensex ended 0.13% higher at 80,905.30.
Benchmark stock indices ended Wednesday's choppy session on a positive note, with the NSE Nifty 50 recording a five-day winning streak as ITC Ltd. and Bharti Airtel Ltd. gained.
The NSE Nifty 50 settled at 71.35 points, or 0.29% higher at 24,770.20, and the S&P BSE Sensex ended at 102.44 points, or 0.13% higher at 80,905.30.
Intraday, Nifty rose 0.30% to 24,773.25, and Sensex rose 0.13% to 80,905.89. For the entire session, the Nifty 50 moved in the 133.45 point range, and the Sensex in the 326.45 point range.
"For the index, the view remains the same, that is, heading towards 24,870 (range breakout target), while the support level shifted higher to 24,640," said Aditya Gaggar, director, Progressive Share Brokers Pvt.
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Shares of ITC Ltd., Bharti Airtel Ltd., Hindustan Unilever Ltd., Titan Co., and Tata Consultancy Services Ltd. were positively contributing to changes in the Nifty.
While those of HDFC Bank Ltd., ICICI Bank Ltd., Tata Steel Ltd., UltraTech Cement Ltd., and Power Grid Corp. weighed the index.
On NSE, out of 12 sectors, seven advanced, four declined, and one remained flat. The NSE Nifty FMCG emerged as the top gainer, and the NSE Nifty Realty declined the most.
Broader markets outperformed. The BSE Midcap and Smallcap indices ended 0.43% and 0.87% higher, respectively.
On BSE, 16 out of 20 sectors ended higher, with BSE Consumer Durables emerging as the top performing sector.
Market breadth was skewed in the favour of buyers. Around 2,611 stocks rose, 1,340 stocks declined, and 87 remained unchanged on BSE.
