Major indices of Indian stock markets, Sensex and Nifty 50 continued their winning run on Wednesday by making small but considerable gains.
High volatility in the capital markets and concerns regarding interest rate hikes in the United States of America kept most of the investors on the sidelines today.
Gains posted by Asian and European markets amidst apprehension regarding a global economic slowdown and the performance of foreign institutional investors in Indian capital markets helped Sensex and Nifty 50 stay afloat today and close the markets in the green.
Contraction of the US economy due to lower demand in the service sector and the possibility of an increase in international oil prices also impacted the markets on Wednesday.
S&P BSE Sensex of the Bombay Stock Exchange gained 54.13 points on Wednesday to close that market at 59,085.43. Sensex which previously closed at 59,031.30 on Tuesday opened at 58,853.32 points today and went as high as 59,170.87 during intraday trading.
Top gainers on Wednesday were Indus Ind Bank, NTPC, Larsen and Toubro, ICICI Bank, Power gird, and HDFC.
All banking stocks except the state bank of India gained on Wednesday. The banking stocks which posted profits today include Kotak Mahindra Bank, Axis Bank and HDFC Bank.
Top losers on Sensex today were Tata Steel, Tata Consultancy Services, Titan, Sun Pharma, State Bank of India and Indian Tobacco Company.
IT stocks such as TCS, Infosys, and Wipro suffered losses today. Only Tech Mahindra and HCL Tech were able to post profits from IT stocks listed on the Sensex.
Out of 30 stocks listed on the S&P BSE Sensex, 16 stocks closed their trading in green today. 14 stocks suffered losses and ended up in red at the end of the trading day.
In sectoral indexes, S&P BSE REALTY was the top gainer today. The top loser was the IT index of Bombay Stock Exchange, S&P BSE Information Technology.
The benchmark index of the national stock exchange, Nifty 50, gained 27.45 points on Wednesday to close the market at a last traded price of 17,604.95.
Nifty 50 which closed at 17,577.50 on Tuesday opened at 17,525.45 today and went as high as 17,623.65 during intraday trading.
Top gainers on Nifty 50 were Apollo Hospitals, Indus Ind Bank, ONGC, ICICI Bank, NTPC and Kotak Mahindra Bank.
The top losers on Wednesday were BPCL, Tata Steel, Divis Labs, Tata Consultancy Services, Titan and Sun Pharma.