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News Topical, Digital Desk : The market closed with gains in the third trading session of the trading week. This rise in the market was seen due to excellent global signals. Sensex and Nifty closed with gains. Buying was seen in midcap and smallcap stocks. If we look at the sectoral front, buying was seen in defense, pharma and metal stocks. PSE, infra and realty index closed on a rise. PSU Bank, FMCG and Oil & Gas index closed flat.
After today's rise, the market recovered Tuesday's decline and closed near the upper level of the session. Nifty has now crossed the 24,600 level. Buying continued in auto stocks before the festive season.
At what level did the market close? After a full day's work on Wednesday, the Sensex closed at 80,540, up 304 points. Nifty closed at 24,619, up 132 points. The Nifty Bank Index closed at 55,181 with a gain of 138 points. The Nifty Midcap Index closed at 56,682 with a gain of 357 points.
Which stocks showed action The biggest rise in Nifty was seen in Apollo Hospitals. After the first quarter results, this stock closed 8% higher. Hindalco closed 5% higher on the back of positive commentary. Buying was also seen in pharma stocks. Dr Reddy's Labs and Cipla were in the list of Nifty's fastest stocks. Defense stocks also saw buying after HAL's strong results. It also got support from brokerage's positive note on BDL. Suzlon Energy closed 4% lower after the resignation of CFO. Nykaa also saw a rise of 5%. After Tuesday, Alkem Lab remained bullish today and closed with a gain of 5%. Smavardhan Motherson closed 3% higher on the strength of positive commentary. Paytm closed with a gain of 2% after getting fresh license from RBI. LIC declined. Media reports have reported that the government may sell some part of this stock in the next two weeks.
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