Sensex, Nifty Extend Gains: Midday Market Wrap
The Sensex was up 422 points or 0.70% at 61,078.15, while the Nifty was 115 points or 0.64% higher at 18,168.10.
The Indian benchmark indices continued to advance in trade as the Sensex reclaimed the 61,000 level at midday on Wednesday.
Asian markets were volatile on Wednesday in the wake of the Bank of Japan’s policy meeting, as many key indices swung between gains and losses.
Japanese stocks, on the other hand, rallied alongside a sharp drop in the yen after the Bank of Japan, in its policy announcement today, kept its key rates unchanged.
As of 12:08 p.m., the S&P BSE Sensex was up 422 points, or 0.70%, at 61,078.15 while the NSE Nifty 50 was 115 points, or 0.64%, higher at 18,168.10.
Tata Steel Ltd., Hindalco Industries Ltd., HDFC Bank Ltd., HDFC Ltd., and Wipro Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, HDFC Life Insurance Co., Adani Enterprises Ltd., Tata Motors Ltd., BPCL Ltd., and Ultratech Cement Ltd. were the top losers in the gauge.
The broader market indices were trading higher; S&P BSE MidCap was up 0.24%, whereas S&P BSE SmallCap was higher at 0.25%.
Fifteen out of the 19 sectoral indices compiled by the BSE advanced, while four declined.
The market breadth was skewed in favour of the bulls. About 1,908 stocks rose, 1,459 declined, and 162 remained unchanged on the BSE.