Sensex, Nifty Hold Gains As PSU Banks Advance: Midday Market Update
At 12:40 p.m., the Sensex rose 109 points, or 0.19%, to 58,183.62, while the Nifty 50 gained 25 points, or 0.15%, to 17,132.65.
India's benchmark stock indices held on to their gains by midday trade on Wednesday, led by advances in PSU banks.
Asian markets rose, and U.S. equity futures steadied ahead of the Federal Reserve’s much-anticipated interest-rate decision later on Wednesday. Stocks in China, Japan, and Australia climbed, along with contracts for the region-wide Euro Stoxx 50, as concerns over global financial stability eased.
At 12:40 p.m., the S&P BSE Sensex rose 109 points, or 0.19%, to 58,183.62, while the NSE Nifty 50 gained 25 points, or 0.15%, to 17,132.65.
Bajaj Auto Ltd., Bajaj Finserv Ltd., Bajaj Finance Ltd., HDFC Life Insurance Co., and Reliance Industries Ltd. were the top gainers among the NSE Nifty 50 gauge.
Whereas, Britannia Industries Ltd., Hindustan Unilever Ltd., Power Grid Corp of India Ltd., Tech Mahindra Ltd., and TCS Ltd. weighed the index down.
All the Adani Group companies, with the exception of Adani Enterprises Ltd. and Adani Port and Special Economic Zone Ltd., advanced.
The broader market indices were trading higher; S&P BSE MidCap was up 0.41%, whereas S&P BSE SmallCap was higher by 0.71%.
Seventeen out of the 20 sectors compiled by BSE advanced, while S&P BSE Energy, S&P BSE Oil and Gas and S&P BSE Consumer Durables declined.
The market breadth was skewed in the favour of buyers. About 2,097 stocks rose, 1,204 declined, and 156 remained unchanged on the BSE.