Sensex rises over 200 Points, Nifty Above 7,550

The barometer of Indian equities, Sensex advanced nearly 190 points and the Nifty rose above its crucial psychological level of 7,550 on the back of firm global cues in the opening deals on Wednesday.

Asian shares rose as Shanghai’s market stabilized for a second day and Chinese export figures improved. Investors also were cheered by gains on Wall Street that snapped a losing streak, including an eight-day slump for the Nasdaq composite.

Back home, buying was visible across the sectors. Metal, banking, oil & gas, power, pharma, realty and IT indices were quoting 0.4-1 per cent higher.

From the Nifty-50 basket of stocks, 47 stocks were advancing while 3 were declining.

Sun Pharma was the top Nifty gainer. The stock advanced 1.76 per cent to Rs 802. IndusInd Bank, Tata Motors, Hindalco, Yes Bank, Tata Steel, Bharti Airtel and Reliance Industries were also up 1-1.75 per cent each.

On the other hand, TCS was trading marginally lower post its third quarter earnings. The stock slipped 0.06 per cent to Rs 2,327. Power Grid and Wipro were also among the notable laggards.

The broader markets were also trading on a firm note. The BSE mid-cap and small-cap indices advanced 0.8 per cent each.

From the mid-cap space, Reliance Communications (RCom) was the top gainer. The shares of RCom jumped nearly 2 per cent to Rs 81.70. Berger Paints, Glenmark, J P Associates, GMR Infra, Blue Dart, Torrent Power and Bajaj Finance were also among the gainers, up 1.6-1.8 per cent each.

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Source:Ndtv

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