The Stock Market benchmark
Sensex added to its Tuesday’s rally by gaining 57 points on Wednesday and the
NSE Nifty pulled off a nearly 6-month closing high on increased buying in oil
& gas and IT amid persistent foreign inflows and solid quarterly numbers so
far.
The 50-share NSE Nifty rose 17.25 points, or 0.22 percent, to 7979.90 at the close its biggest closing since November 4, 2015.
Moreover, covering-up of
short positions ahead of tomorrow’s expiry of April series in the derivatives
segment supported the upside.Sentiment took on more sine
after global crude rallied to this year’s high, backed up by a falling output
and a weaker doller.
The US benchmark Brent crude oil surged 2.34 percent to 46.81 per barrel in global market.
The rupee, on a firmer
ground against the dollar, also had a bearing on the market mood. Asia and
Europe, however, traded lower as investors chose to remain cautious ahead of
the outcome of the US Feral Reserve meeting later in the day. Focus is also on
the Bank of Japan, which is set to meet on Thursday.
At
one point, the 30-share BSE Sensex slipped below the 26000 mark.
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