Market on Wednesday | Nifty back above 24,600, Sensex up 304 pts amid buying across sectors
Indian market ended higher on August 13, erasing previous session losses, helping Nifty to close above 24,600, led by buying across the sectors.
The ease in US July CPI at 2.7 percent and decline in India’s retail inflation to 1.6 percent, at eight-year low, added to the optimistic sentiment about rate cut by the respective central banks at the upcoming monetary policy meetings.
Amid positive global markets, the India indices opened firm and traded in positive territory throughout the session led by buying across the sectors, especially in auto, metal, pharma names.
At close, the Sensex was up 304.32 points or 0.38 percent at 80,539.91, and the Nifty was up 131.95 points or 0.54 percent at 24,619.35. BSE Midcap and Smallcap indices rose 0.5% each.
Apollo Hospitals, Hindalco Industries, Hero MotoCorp, Dr Reddy’s Labs, Cipla were among major gainers on the Nifty, while losers included IndusInd Bank, UltraTech Cement, Adani Ports, Titan Company, ITC.
All sectoral indices ended in the green with auto, metal, pharma up 1 percent each.