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BSE Sensex was up by 3.20 per cent, or 2,303.19 points, to 74,382.24, while the NSE Nifty was at 22,366.15, up 2.2 per cent or 481.65 points at 3.30 pm on Wednesday.
Vinod Nair, Head of Research, Geojit Financial Services, said, “Indian market exhibited a spirited recovery driven by broad-based buying across various sectors, as political stability appears assured. However, attention will remain on the formation of the government and the forthcoming RBI policy meeting. The market does not expect any change in RBI’s policy stance, given persistent high food inflation and the expectation of an increase in government spending, which has led to a notable traction in FMCG stocks.”
Most stocks in the Nifty 50 pack traded positive as of 3 pm. The top gainers were Adani ports (9.09%), IndusInd (8.20%), Tata Steel (6.61%), M&M (6.60%), Hero Motocorp (6.41%). Top losers include Larsen and Toubro (-2.21%), Bharat Petroleum Corporation (-1.94%), Power Grid Corporation (-1.20%), State Bank of India (-0.88%), Ultratech Cement (-0.02%)
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