TCS, Infy, SBI lift Sensex 548 pts ahead of Fed outcome; Nifty tops 16,600
CLOSING BELL: Sun Pharma, Divis Lab, L&T, Asian Paints, SBI, TCS, Ultratech Cement, and Grasim led from the front, rising over 2 per cent each
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CLOSING BELL
Stock market highlights: Domestic markets erased morning losses and turned sharply higher on Wednesday as a broad-based rally ensued on Dalal Street. The markets seemed unnerved ahead of the US Federal Reserve's policy outcome later tonight, and rather focused on falling bond yields and domestic corporate earnings.
BS SPECIAL: How SBI Card, Paytm may benefit from 2% MDR on RuPay-UPI credit cards
Stock market highlights: Domestic markets erased morning losses and turned sharply higher on Wednesday as a broad-based rally ensued on Dalal Street. The markets seemed unnerved ahead of the US Federal Reserve's policy outcome later tonight, and rather focused on falling bond yields and domestic corporate earnings.
The S&P BSE Sensex surged 548 points, or 0.99 per cent, to settle at 55,816. The Nifty50, meanwhile, closed at 16,642, up 158 points or 0.96 per cent.
ALSO READ: US Fed rate hike will intensify market risks for Asia's central banks
Sun Pharma, Divis Lab, L&T, Asian Paints, SBI, TCS, Ultratech Cement, and Grasim led from the front, rising over 2 per cent each. Bharti Airtel, Bajaj Auto, Kotak Bank, Reliance Industries, and HDFC Life, on the flipside, were the only losers, down up to 1 per cent.
ALSO READ: US Fed rate hike will intensify market risks for Asia's central banks
Sun Pharma, Divis Lab, L&T, Asian Paints, SBI, TCS, Ultratech Cement, and Grasim led from the front, rising over 2 per cent each. Bharti Airtel, Bajaj Auto, Kotak Bank, Reliance Industries, and HDFC Life, on the flipside, were the only losers, down up to 1 per cent.
The rally was across-the-board with the Nifty Pharma and PSB indices climbing over 2 per cent each, followed by the Nifty IT index (up 1.7 per cent), and the Nifty Bank index (1 per cent).
BS SPECIAL: How SBI Card, Paytm may benefit from 2% MDR on RuPay-UPI credit cards
The broader BSE MidCap and SmallCap indices underperformed at the bourses as they advanced up to 0.90 per cent.
Global markets
European markets were cautiously higher on Wednesday as investors looked ahead to the latest monetary policy decision from the US Federal Reserve. The pan-European Stoxx 600 added 0.2 per cent in early trade, with banks climbing 1.5 per cent to lead gains while basic resources slid 0.9 per cent.
On Wall Street, Nasdaq and S&P500 futures gained over 1 per cent, while Dow Jones Futures were up 0.5 per cent. Earlier in Asia, also indices ended higher except those in China and Hong Kong.
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Topics : Sensex MARKET LIVE MARKET WRAP Nifty BSE NSE Midcap smallcap stocks Q1 results Tata Power Maruti Suzuki India Tata Motors Bajaj Finance United Spirits Crude Oil Price FII flows US Federal Reserve Fed rate hikes Global Markets Indian markets Trading strategies stock market investing US markets
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First Published: Jul 27 2022 | 8:07 AM IST
