The stock market extended its winning streak for the second consecutive session on Wednesday amid buying across sectors, especially in IT, realty, oil & gas, and power stocks.
At the close, the Sensex was up 901.50 points, or 1.13%, at 80,378.13, and the Nifty was up 270.75 points, or 1.12%, at 24,484.
Both the indices recorded their strongest performance since September 20.
On the Nifty, the biggest gainers were Bharat Electronics, Adani Enterprises, TCS, Tech Mahindra, and Infosys. On the losing side were SBI Life Insurance, Titan Company, IndusInd Bank, HDFC Life, and HUL.
On the BSE, over 200 stocks hit fresh 52-week highs in intraday trade. These included Coforge, City Union Bank, Deepak Fertilisers, eClerx Services, Gillette India, Mankind Pharma, and National Aluminium Company.
TCS, Infosys, Tech Mahindra, HCL Tech, and Adani Ports ended as the top gainers in the Sensex index. On the flip side, shares of Titan, IndusInd Bank, Hindustan Unilever, Axis Bank, and HDFC Bank ended as the laggards in the index.
The rupee fell by 21 paise to reach a record low of 84.30 against the US dollar as the US Dollar index strengthened with Donald Trump poised to win the US presidential election.
Among the sectors, all indices ended in the green with the IT index rising 4%, and oil & gas, power, capital goods, and realty sectors gaining 2% each.
The BSE Midcap index rose by more than 2%, while the Smallcap index gained nearly 2%.
Among some key performers were the shares of Dr Reddy’s Labs which rose over 2% after the company posted decent quarterly earnings. Dr Reddy’s revenue surged by 17% to an all-time high of Rs 8,016 crore.
Oil India shares surged around 6% following a robust earnings report.
Shares of GAIL India surged over 6% after the company reported positive earnings for the quarter ended September 30, 2024.
Hindustan Zinc shares took a beating and plummeted 8% as the government announced offloading a 2.5% stake in the company through an OFS.
Shares of RVNL surged over 4% after the company, in partnership with Rithwik Projects Pvt Ltd, emerged as the lowest bidder for a major contract with Rail Infrastructure Development Company (Karnataka) Ltd.
Mazagon Dock Shipbuilders price rose 2% after the state-run company reported strong September quarter results.
Sensex and Nifty 50 extended their rally as Donald Trump claimed victory in the 2024 US Presidential election. Donald Trump is set to be the 47th President of the world’s largest economy.