Sensex, Nifty pare early gains, but close higher
The rupee also recovered by 42 paise against the United States dollar, closing at 73.15.
The Sensex pared early gains but kept its 34,000 mark, closing 186.73 points up at 34,033.96 on Wednesday. On Tuesday, the 31-share index had closed at a six-month low. The National Stock Exchange Nifty rose 77.95 points to finish at 10,224.75 on Wednesday.
The Sensex had lost over 1,300 points in the last four sessions. Wednesday’s recovery was the result of a drop in global crude oil prices, which lifted the stocks of oil marketing companies. The rupee also recovered by 42 paise against the United States dollar, closing at 73.15.
Bharti Airtel was the top gainer on the Sensex, followed by Asian Paints, IndusInd Bank, HDFC and Hindustan Unilever. The biggest losers on the 31-share index were Yes Bank, Bajaj Auto, Adani Ports, National Thermal Power Corporation and Infosys.
On the Nifty 50, the stocks which gained the most were Bajaj Finance, Bharti Airtel, Hindustan Petroleum Corporation Ltd, Indian Oil Corporation and Hindalco. The biggest losers were Yes Bank, Bajaj Auto, Grasim, Dr Reddy’s Laboratories and Adani Ports.
Other Asian markets had a mixed day. Japan’s Nikkei 225 rose over 80 points, and the Shanghai index ended almost flat at 8.47 points up. The Australia ASX All Ordinaries market declined over 18 points, and the Taiwan index over 15 points.