Sensex increases 630 points due to strong global trends, while Nifty regains 16,500

On Wednesday, Indian equity indexes continued their winning streak for a fourth straight session, tracking gains in global markets.

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On Wednesday, Indian equity indexes continued their winning streak for a fourth straight session, tracking gains in global markets. Strong corporate profits from the United States and the anticipated restart of Russian gas shipments to Europe allayed concerns about an impending recession, causing stocks to trade at close to a three-week high.

Following a jump on Wall Street overnight, Asian equities increased and U.S. stock futures increased.

At home, the government’s decision to reduce windfall taxes on petroleum and fuel exports helped investors feel more optimistic. Energy stocks that will profit from the change, including index heavyweight Reliance Industries, increased.

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The 30-share BSE Sensex increased by 630 points or 1.15 percent today to conclude at 55,398 while the larger NSE Nifty gained 180 points or 1.1% to end the day at 16,521.

The Nifty Midcap 100 and small-cap shares both completed the day strongly, up 0.19 percent and 0.81 percent, respectively.

The National Stock Exchange’s compilation of 15 sector gauges, 12 of which reached positive closing values. By gaining by as much as 2.93%, 1.13%, and 1.02%, respectively, the sub-indices Nifty IT, Nifty FMCG, and Nifty Oil & Gas surpassed the NSE platform.

Nifty Auto, on the other hand, decreased by as much as 0.222%.

In terms of individual stocks, ONGC was the highest gainer on the Nifty index, rising 3.71 percent to 132.65. Additionally profiting were Tech Mahindra, TCS, HCL Technologies, and Reliance.

1,926 shares on the BSE climbed while 1,429 fell, resulting in a positive total market breadth.

With their shares rising as much as 3.61 percent, TechM, HCL Tech, TCS, Reliance, SBI, Infosys, Hindustan Unilever, Wipro, Titan, HDFC Bank, Nestle India, and IndusInd Bank were among the top gainers on the 30-share BSE index.

On the other hand, M&M, Sun Pharma, Kotak Mahindra Bank, Asian Paints, Bharti Airtel, Bajaj Finserv, Bajaj Finance, PowerGrid, NTPC, and Dr. Reddy’s all had negative results.

The largest domestic financial investor and insurer in the nation, Life Insurance Corporation of India (LIC), saw a 0.13 percent decline in share price to close at 687.85 rupees.