Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
Supported by better-than-expected third quarter (Q3) Gross Domestic Product (GDP) numbers and positive European markets, domestic bourses snapped two-session losing streak and closed Wednesday’s trading session on a higher note.
The Sensex at the Bombay Stock Exchange (BSE) ended 241 points higher at 28,984 and the Nifty at the National Stock Exchange (NSE) closed 66 points up at 8,946.
In the broader markets, BSE Midcap and Smallcap indices rose 0.1 per cent and 0.5 per cent respectively.
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Among the BSE sectoral indices, Realty index jumped the most, up 3.5 per cent, while Oil & Gas index became the top loser, down 0.9 per cent.
Gross Domestic Product (GDP) growth for the quarter ended December 31, 2016 contracted to 7 per cent, Central Statistics Office (CSO) said on Tuesday.
The third quarter number GDP numbers are an important indicator of how the economy reacted after demonetisation. In the quarter ended December 31, 2015 the GDP growth was 7.2 per cent.
On Tuesday, the Sensex had closed 70 points down at 28,743 and the Nifty had closed 17 points lower at 8,880.
Top gainers in the Sensex-30 pack: Tata Steel (up 3.7 per cent), M&M (up 3.1 per cent), Dr Reddy’s Labs (up 2.6 per cent), ITC (up 2.5 per cent) and HDFC (up 2.3 per cent).
Top losers in the Sensex-30 pack: Gail (down 1.9 per cent), NTPC (down 1.9 per cent), Tata Motors (down 1.6 per cent), Bharti Airtel (down 0.7 per cent), and Reliance Industries (down 0.3 per cent).
However, the Rupee closed 13 paise down at 66.82 against the US Dollar.
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