The Indian equity extended rally on Wednesday, tracking firm global cues, ahead of the expiry of March series futures and options contracts on Thursday. The market sentiment got a lift on renewed optimism for tax reforms in the US coupled with sustained buying by foreign portfolio investors. Banking stocks extended rally for the second day after the Finance Minister Arun Jaitley assured to resolve non-performing assets (NPA) issue soon.
The 30-share barometer index of Bombay Stock Exchange, Sensex closed at 29531.43, up by 121.91 points or by 0.41 per cent, and the NSE Nifty ended at 9143.8, up by 43 points or by 0.47 per cent.
During the day’s trade, the BSE Sensex touched intraday high of 29554.39 and intraday low of 29439.42, while the NSE Nifty touched intraday high of 9153.15 and intraday low of 9109.1.
The top gainers of the BSE Sensex pack were State Bank of India (Rs. 287.75,+1.98%), ICICI Bank Ltd. (Rs. 281.95,+1.81%), Bharti Airtel Ltd. (Rs. 344.90,+1.25%), Coal India Ltd. (Rs. 294.05,+1.07%), Housing Development Finance Corporation Ltd. (Rs. 1518.85,+1.00%), among others.
On the flip side, Hero MotoCorp Ltd. (Rs. 3223.25,-3.15%), Sun Pharmaceutical Industries Ltd. (Rs. 688.60,-1.42%), Tata Motors Ltd. (Rs. 469.10,-0.70%), Mahindra & Mahindra Ltd. (Rs. 1268.20,-0.66%), Maruti Suzuki India Ltd. (Rs. 5941.00,-0.58%), were among top losers on BSE.
On the sectoral front, consumer durables and bank stocks emerged as top gainers, adding as much as 1.29 per cent and 0.78 per cent, respectively.
The market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 3281, shares advanced were 1262 while 1761 shares declined and 258 were unchanged.