The stock market erased the previous session’s losses on Wednesday helped by buying in auto, realty, power, and capital goods stocks.

Sensex ended higher by 526.01 points or 0.73% at 72,996.31 level while the Nifty 50 closed at 22,123.65 level, up 118.95 points or 0.54%.

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In sector-wise, auto, bank, capital goods, power, realty, and telecom were up 0.5-1%, while metal, IT, and media were down 0.3-0.5%.

The FMCG index closed down 0.27%, and the IT index closed down 0.64%, while the Pharma and Healthcare indices closed down 0.22%, and 0.03%, respectively. The PSU Bank index had shed 0.97% at the end of the trading session.

On the broader market front, the Nifty Smallcap 100 outperformed the benchmark indices, rising 1.15%, while the Nifty Midcap 100 underperformed, ending 0.12%.

The BSE Midcap index ended on a flat note and the Smallcap index gained 0.7%.

A mixed trend was seen in the broader markets where Midcaps underperformed while Smallcap gained over 0.90% and outshined Nifty50.

After Goldman Sachs raised its target price, the shares of oil-to-telecom major Reliance Industries Limited (RIL) jumped 3.6% intra-day to Rs 2,988 on the BSE.

The brokerage agency raised the target price citing peaking capex in its old businesses, favourable risk-reward and value accretion from the recent media joint venture with Disney.

It raised its 1-year target price on RIL to Rs 3,400 from Rs 2,925 in a base-case scenario, reflecting a potential upside of 14% over Wednesday’s close.

In a bull-case scenario, the stock can leap to Rs 4,495 by FY26, implying a 50% increase, it said.

Maruti Suzuki India (MSIL) became the first automobile firm to touch Rs 4 trillion market capitalisation.

Its stock price hit a new high of Rs 12,724.95, rallying 4% on the BSE in Wednesday’s intra-day trade.

The stocks that reached their 52-week-high on BSE were: ABB India, Arvind Smart, Bajaj Auto, Bharat Bijlee, CG Power, Cummins India, Dixon Technologies, Info Edge, Lakshmi Machine Works, Mankind Pharma, Maruti Suzuki, Oracle Financial Services, Rico Auto, Sanghvi Movers, Siemens, Star Cement, Thermax, Time Technoplast, Torrent Power, and Voltamp Transformers among others.

In the global scenario, the Asian stocks were mixed following Wall Street’s little pullback from its all-time highs. US futures slightly increased while oil prices dropped.

The Shanghai Composite index fell 1.3% to 2,993.14, while the Hang Seng index in Hong Kong slid 1.4% to 16,392.84.

Tokyo’s Nikkei 225 gained 0.9% to 40,762.73. The Taiex in Taiwan closed 0.4% higher, while the SET in Bangkok rose by 0.3%.