Stock Market Today: The stock market closed with gains for the second consecutive day. Sensex reached 76,532 and Nifty reached 23,163. There was strong buying in midcap and smallcap. Auto, IT, pharma shone, while the FMCG sector remained weak.
The Indian stock market ended trading strongly on Wednesday. Both the Sensex and the Nifty showed strength, while strong buying was seen in midcap and smallcap stocks.
The Sensex closed at 76,532.96 with a gain of 631.55 points or 0.83%. At the same time, the Nifty reached the level of 23,163.10 with a gain of 205.85 points or 0.90%.
Midcap and smallcap surge
Tremendous interest of investors was seen in midcap and smallcap stocks.
- Nifty Midcap 100: Gained 1,189.40 points (2.31%) to close at 52,718.85.
- Nifty Smallcap 100: Gained 532.05 points (3.32%) to reach the level of 16,540.
In which sector was buying seen?
Good buying was seen in auto, IT, PSU bank, finance and pharma stocks.
FMCG sector saw a slight decline.
Investors' wealth increased in the market:
Due to the rise, the total market capitalization of companies listed on BSE increased by about Rs 10 lakh crore to Rs 416 lakh crore.
- Top Gainers: Zomato, Tata Motors, Infosys, UltraTech Cement, Tech Mahindra, M&M, Bajaj Finance, Adani Ports, Sun Pharma, Kotak Mahindra Bank.
- Top Losers: Bharti Airtel, Maruti Suzuki, Asian Paints, ITC, Axis Bank, HUL.
According to experts, Nifty recovered from the support of 22,800 and closed above 23,100, which is a sign of strength.
If Nifty closes above 23,300, then the next target can be 23,650 and 23,800.
This is the second day of gain
The market had shown strength on Monday as well. Sensex closed 535 points higher at 75,901 and Nifty closed 128 points higher at 22,957.
It is worth noting that due to strong buying and positive sentiment, the stock market is in a bullish trend. Investors' interest in midcap and smallcap is continuously increasing, due to which the market may see further strength.
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