Stock Market Highlights: Sensex gains 170 points, Nifty closes above 17800 points;auto, realty, capital goods shine.

Stock Market Highlights: Sensex gains 170 points, Nifty closes above 17800 points;auto, realty, capital goods shine.

Ira Singh
26th April’23

The Indian equity indices opened lower on Wednesday, following weakness in global markets after U.S. consumer confidence fell to a nine-month low of 101.3 in April, according to recent reports.

At close, the Sensex was up 169.87 points or 0.28 percent at 60,300.58, and the Nifty was up 44.35 points or 0.25 percent at 17,813.60, according to estimates.

Stocks and Sectors

Top gainers on the Nifty included Power Grid Corporation, Nestle India, Tata Consumer Products, IndusInd Bank and L&T, while losers were Hindalco Industries, Adani Ports, Bajaj Auto, Bajaj Finserv and NTPC.Metal index is down 0.5 percent, while realty, capital goods, auto, power, FMCG, PSU Bank, and information technology indices are up 0.4-1 percent,according to reliable sources.

The BSE midcap index added 0.27 percent and smallcap index gained 0.34 percent.

On global front,oil prices rose in early Asian trade on Wednesday after a U.S. trade group reported a significant draw in crude oil stocks ahead of the government’s data release.

U.S. crude oil stocks fell by about 6.1 million barrels in the week ended April 21, according to market sources citing American Petroleum Institute figures on Tuesday. Analysts had expected crude inventories to fall by about 1.5 million barrels, according to sources.

Amid weak global cues,the Indian rupee has given an upward breakout after Tuesday’s lacklustre trade as month-end rebalancing and stop-loss orders trigger.On 26th April’23, the rupee close at 81.7650 per dollar against previous close of 81.9125. The currency rose up to 81.6950 during the day, its strongest level since March 6, according to recent reports.

Experts take:

Market experts have recommended 4 buy or sell stocks for Wednesday’s trading session-RIL,ICICI Bank, Bharti Airtel and Mahanagar Gas.