Mumbai, Aug 17: Benchmark indices ended higher on Wednesday, with Sensex topping the 60,000 mark as investors’ sentiments got boosted by softening inflation and strong buying by foreign investors. At close, Sensex ended up 417.92 points or 0.70 percent at 60,260.13, and Nifty ended 119.00 points or 0.67 percent higher at 17,944.25. About 2,019 shares have advanced, 1,405 shares declined and 132 remained unchanged.
BSE midcap ended up at 0.64 percent, whereas BSE SmallCap and BSE LargeCap closed at 0.53 percent and 0.71 percent, respectively. BSE IT index and BSE Consumer Durables index ended over 1 percent up on Wednesday.
Bajaj Finserv, Bajaj Finance, Tech Mahindra, and Bharti Airtel, among others, were top gainers on the BSE on Wednesday. “Bulls on Dalal Street kept the momentum going as Sensex zoomed past the psychological 60,000-mark and Nifty inched towards 18,000 level on the back of softening inflation and strong FII buying in the current month. While global factors remain hazy, India is seen as a bright spot in today’s challenging times,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Meanwhile, Asian markets were trading mixed on Wednesday following the Wall Street trades overnight. European markets were trading lower after mixed cues from Wall Street, having struggled to build positive momentum so far this week. “Bank Nifty is consolidating near 39,500 level where we can expect some profit booking towards 38,700-38,400 zone while if it sustains above 39,500 level then we can expect a move towards 40,000 level,” said Santosh Meena, Head of Research, Swastika Investment Ltd.
