Sensex Rises 299 Points to 74,828; Nifty Closes at 23,446
The BSE Sensex and CNX Nifty indices close higher on Wednesday.
Key Highlights
Indian equity benchmarks Sensex and Nifty closed higher driven by easing crude oil prices, despite foreign institutional investor outflows.
Indian equity benchmarks closed higher on Wednesday, driven by easing crude oil prices that remained below 100 dollars per barrel alongside hopes of a de-escalation in West Asia. However, foreign institutional investor outflows restricted broader gains across domestic equities.
Key Market Gauges and Flows
- The Sensex rose 299.17 points, or 0.40%, to close at 74,828.25.
- The CNX Nifty climbed 117.80 points, or 0.50%, to finish at 23,446.80.
- offloaded equities worth Rs 3,809.99 crore on Tuesday.
Buying in Metal, Basic Materials, and FMCG stocks supported the indices through the session. Conversely, selling pressure in IT stocks capped the upside for both benchmarks.
Macroeconomic Indicators and Projections
- The Asian Development Bank revised India’s economic growth forecast for FY27 upward to 7%.
- The HSBC Flash India Composite Output Index rose to 56.5 in September from 54.3 in August.
- Crisil Ratings projected a 9-11% revenue growth to Rs 44 lakh crore for 18 large states in FY27.
Traders maintained focus on the global front ahead of a crucial U.S.-China summit scheduled for Thursday. Meanwhile, European markets traded mostly in red despite S&P Global data showing euro area private sector expansion at its fastest pace since April 2023.