Sensex Crosses 60,000 After Four Months; Nifty 50 Close To 18,000: Market Wrap
India's stock benchmarks posted the longest winning streak so far in 2022.
India's stock benchmarks rose for the seventh day in a row—the longest winning streak so far in 2022—aided by gains in information technology, consumer durables and telecom stocks.
The Sensex reclaimed 60,000 levels after over four months, while the Nifty 50 inched closer to 18,000.
The Sensex rose 0.70% (more than 400 points) to close at 60.260.13. The Nifty advanced by a similar magnitude to close at 17,944.25.
On Wednesday, 33 of the Nifty 50 stocks rose, while seven fell. Bajaj Finserv Ltd., Hero MotoCorp Ltd., Bajaj Finance Ltd., HDFC Life Insurance Co. and Bharti Airtel Ltd. were among the top gainers.
The broader indices mirrored their larger peers with both small cap and mid cap gauges rising over 0.5%.
Barring S&P BSE Auto and Capital Goods, the other 17 sectoral indices advanced, with telecom surging nearly 2%.
The market breadth was skewed in favour of bulls. About 2,018 stocks rose, 1,407 fell, and 131 remained unchanged.