Millennium Post

Markets maintain momentum for 3rd day

Markets maintain momentum for 3rd day

Mumbai: Equity indices ticked higher for the third straight session on Wednesday, largely in tandem with global markets as investors awaited the outcome of the tightly-contested US presidential election.

Robust buying in market-heavyweight Reliance Industries and IT stocks boosted the benchmarks, even as a sharp depreciation in the rupee weighed on sentiment, traders said.

After a volatile session, the 30-share BSE Sensex ended 355.01 points or 0.88 per cent higher at 40,616.14.

Similarly, the broader NSE Nifty climbed 95 points or 0.80 per cent to 11,908.50.

IndusInd Bank was the top gainer in the Sensex pack, surging 4.85 per cent, followed by Sun Pharma, Reliance Industries, Infosys, Kotak Bank and Tech Mahindra.

On the other hand, HDFC, Axis Bank, PowerGrid, ICICI Bank, NTPC and L&T were among the laggards, shedding up to 2.02 per cent.

Sector-wise, BSE energy, IT, teck, consumer durables, healthcare, capital goods and oil and gas indices advanced up to 2.74 per cent, while realty, telecom, utilities and metal indices fell up to 1.90 per cent.

Broader midcap and smallcap indices rose up to 0.43 per cent.

Meanwhile, international oil benchmark Brent crude was trading 2.72 per cent higher at USD 40.79 per barrel.

In the forex market, the rupee depreciated 35 paise to close at 74.76 against the US dollar.

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