Last hour buying pushes Nifty above 19600, Sensex jumps 100 pts

Last hour buying pushes Nifty above 19600, Sensex jumps 100 pts

Ira Singh
6 Sep’23

The Indian equity market indices extended their winning run for the fourth consecutive session in a row on Wednesday in tandem with weak global cues and foreign fund outflows.

At close,the Sensex was up 100.26 points or 0.15 percent at 65,880.52, and the Nifty was up 36.15 points or 0.18 percent at 19,611.05.

Stocks and Sectors

Tata Consumer Products, Divis Laboratories, Bharti Airtel, Cipla and HDFC Bank were the top gainers on the Nifty, while losers included Axis Bank, Hindalco Industries, Tata Steel, ICICI Bank and NTPC.

On the sectoral front, FMCG index rose 1 percent, while pharma, oil & gas and power indices gained 0.5 percent each. On the other hand, metal, realty and bank indices down 0.4-1 percent.

The BSE midcap and smallcap indices ended on a flat note.

On 6 Sep’23,the Indian rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 against the US dollar, weighed down by a surge in crude oil prices and strong American currency.

Forex traders said the Indian rupee depreciated on Wednesday as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.

Experts Take:
Market experts have recommended five stocks to buy for Wednesday- JSW Steel, United Breweries, Bikaji Food International, Jain Irrigation Systems, Tech Mahindra, and CreditAccess Grameen.