After reacting positively to RBI’s announcement of a CRR cut on Tuesday, the stock markets continued their green run on Wednesday as well. The Indian benchmark indices, Nifty and Sensex, rose under one per cent.
The Nifty was up 30.95 points or 0.6 per cent at 5,158.30, while the Sensex was up 81.41 points or 0.48 per cent at 17,077.18.
“IT counters were active today owing to better than expected results from US-based Apple. It helped improve the market sentiment. Overall it was a range-bound market but trading was choppy because of derivative series expiry for the current month,” said Ms Shanu Goel, Senior Research Analyst, Bonanza Portfolio.
Metal, media, PSU, auto and tech stocks led the rally while capital goods and realty took a beating. Volatility was down with the India Vix closing down 1.86 per cent at 22.02.
Reliance Infra, Sesa Goa, BPCL, Tata Motors and SAIL were the top five Nifty gainers while Hero Motocorp, Jindal Steel, Tata Power, L&T and HCL Tech were the losers on the Nifty.