The Indian Post Online
Buisness

Nifty finishes over 19,800 and the Sensex climbs 393 points on higher energy and FMCG shares

<p>On Wednesday, the Nifty finished above the 19,800 barrier and the benchmark Sensex increased by 393 points as investors bought shares of capital goods, FMCG, and energy companies despite mixed global signals and easing inflation worries.<img decoding=”async” class=”alignnone wp-image-228561″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-nifty-finishes-over-19800-and-the-sensex-climbs-393-points-on-higher-energy-and-fm.jpg” alt=”theindiaprint.com nifty finishes over 19800 and the sensex climbs 393 points on higher energy and fm” width=”1239″ height=”825″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-nifty-finishes-over-19800-and-the-sensex-climbs-393-points-on-higher-energy-and-fm.jpg 509w, https://www.theindiaprint.com/wp-content/uploads/2023/10/theindiaprint.com-nifty-finishes-over-19800-and-the-sensex-climbs-393-points-on-higher-energy-and-fm-150×100.jpg 150w” sizes=”(max-width: 1239px) 100vw, 1239px” title=”Nifty finishes over 19,800 and the Sensex climbs 393 points on higher energy and FMCG shares 12″></p>
<p>The 30-share Sensex increased for a second consecutive day, rising 393.69 points or 0.6% to finish at 66,473.05 and seeing gains from 24 of its components. Six stocks fell in price.</p>
<p>The NSE’s wider Nifty increased 121.50 points or 0.62 percent to conclude at 19,811.35, as 37 index shares rose, 12 index shares fell, and one index share closed unchanged.</p>
<p>In contrast to the majority of IT shares, which fell ahead of the release of quarterly financial data, buying was evident in the FMCG, energy, metal, pharmaceutical, and private bank shares.</p>
<p>Wipro saw the biggest increase on the Sensex, rising 3.29 percent. Some of the winners were Ultratech Cement, Reliance Industries, Hindustan Unilever, Nestle, NTPC, M&M, HDFC Bank, ITC, Kotak Bank, and Axis Bank.</p>
<p>In contrast, HCL Tech had the largest decline of 1.24 percent. Additionally falling were SBI, TCS, Infosys, IndusInd Bank, and Tata Steel.</p>
<p>According to Vinod Nair, Head of Research at Geojit Financial Services, “the overall market breadth was strong, as investors believe that the Middle East skirmish will be contained within the region and should not impact the crude price.”</p>
<p>The US 10-year bond yield decreased as a result of the US Federal Reserve’s dovish remarks.</p>
<p>“Subsequently, it is anticipated that the September India CPI would decline owing to a decline in food and fuel inflation. And the IT industry, which has a reasonable expectation, will start the Q2 earning season. However, the large corporations are anticipated to provide a bumper return, according to Nair.</p>
<p>The BSE Midcap increased by 0.55 percent while the SmallCap increased by 0.77 percent in the overall market.</p>
<p>Positive market breadth was seen on the BSE as 2,353 stocks finished in the green, 1,334 stocks closed in the red, and 135 stocks concluded unchanged.</p>
<p>Global stock markets were mixed after Wall Street advances as bond market pressure eased.</p>
<p>The Hang Seng in Hong Kong increased by 1.4%, the Kospi in South Korea increased by 2%, and the Nikkei 225 index in Tokyo increased by 0.6%. The Shanghai Composite index decreased by less than 0.1%.</p>
<p>The majority of trade on European stock markets was flat.</p>
<p>According to statistics available with the BSE, foreign institutional investors (FIIs) continued to be net sellers as they sold shares worth Rs 1,005.49 crore on Tuesday.</p>
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