Markets log gains for 5th day

mumbai: Benchmark BSE Sensex closed higher by 213 points on Wednesday, extending its rally to the fifth consecutive day on heavy buying in IT and FMCG shares.

The 30-share BSE Sensex climbed 213.45 points or 0.26 per cent to settle at 81,857.84 with 15 of its constituents ending higher and the rest with losses. During the day, it jumped 341.23 points or 0.41 per cent to 81,985.62.

The 50-share NSE Nifty edged higher by 69.90 points or 0.28 per cent to 25,050.55.

Among Sensex firms, Infosys surged the most by 3.88 per cent, followed by Tata Consultancy Services, which climbed 2.69 per cent. Hindustan Unilever, NTPC, Tata Steel, Tech Mahindra, Eternal and HCL Tech were also among the gainers.

However, Bharat Electronics, Bajaj Finance, Tata Motors and Trent were among the laggards.

Reliance Industries dropped over half a per cent, capping gains in the key index.

“The Indian market sustained its positive momentum, supported by strong domestic inflows and favourable macro tailwinds. However, rich valuations and external risks, particularly the US tariffs and sanctions on purchase of Russian crude, continue to pose challenges. Hence, greater visibility on US trade policy and the path of earnings recovery will be critical.

The BSE midcap gauge climbed 0.39 per cent and smallcap index went up by 0.30 per cent.

Among BSE sectoral indices, BSE Focused IT jumped 2.70 per cent, IT (2.61 per cent), teck (2.22 per cent), FMCG (1.36 per cent), realty (1.04 per cent) and telecommunication (0.68 per cent). Bankex, oil & gas, financial services and energy were the laggards.

In Asian markets, South Korea’s Kospi and Japan’s Nikkei 225 index settled lower while Shanghai’s SSE Composite index and Hong Kong’s Hang Seng ended higher. Markets in Europe were trading on a mixed note.