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Market extends winning streak; realty, financial stocks gain

At close, the Sensex was up 110.58 points or 0.14% at 80,956.33, and the Nifty was up 10.30 points or 0.04% at 24,467.45.

Market extends winning streak; realty, financial stocks gain

Photo: Representative Picture (IANS)

In a highly volatile session, benchmark indices ended on a positive note and extended the winning streak for the fourth straight session on Wednesday.

Nifty touched around the 24,450 mark, led by realty and financial stocks. Indices opened flat, but buying at lower levels helped Nifty to cross 24,550 in the first half.

Strong buying interest in the banking sector provided crucial support, enabling the indices to recover and close with modest gains.

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At close, the Sensex was up 110.58 points or 0.14% at 80,956.33, and the Nifty was up 10.30 points or 0.04% at 24,467.45.

On Nifty, the top gainers were HDFC Life Insurance Company (2.56%), HDFC Bank (1.85%), Apollo Hospitals Enterprise (1.48%), NTPC (1.44%), Bajaj Finserv (1.31%).

While on the losing side were Bharti Airtel (2.25%), Cipla (2.15%), Bajaj Auto (1.78%), Tata Motors (1.64%), Adani Ports & Special Economic Zone (1.48%).

On BSE, over 240 stocks touched their 52-week high including, HEG, Affle India, Computer Age Management Services, Caplin Labs, City Union Bank, Coforge, Dixon Technologies, eClerx Services, Federal Bank, HDFC Bank, Indian Hotels, Info Edge, KEC International, Krishna Institute of Medical Sciences, Mastek, Medplus Health, Oberoi Realty, PB Fintech, Piramal Enterprises, Tech Mahindra, among others.

Further, on the sectoral front, auto and FMCG were down 0.7% each, while IT and Media were up 0.5% each, and realty, PSU Bank gained more than 2% each.

Nifty PSU Bank extended its winning streak for the second consecutive session, gaining 2.25% to reach a three-month high.

The BSE midcap index gained nearly 1% and smallcap index rose 0.6%.

Shares of PB Fintech rose 3.6% after the company announced the approval of the incorporation of a wholly owned subsidiary.

Further, the shares of Honasa Consumer gained over 6% after stock exchange filings showed that co-founder and CEO, Varun Alagh, bought additional shares worth Rs 4.5 crore in the company.

Shares of Zomato rose over 2% after brokerage firm CLSA maintained its outperform rating on the stock.

Reliance Power shares hit the 5% upper circuit at Rs 41.09 following the withdrawal of a debarment notice by the SECI.

Indian market maintained a positive trajectory, despite some volatility stemming from mixed sentiments in Asian markets due to the situation in South Korea.

The Kospi Index fell 1.44% meanwhile the Hong Kong stocks edged lower following US technology sanctions and uncertainty over further stimulus measures from China.

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