Sensex ends 261 points higher; Nifty above 24,600; Eternal gains over 3%
Benchmark stock market indices closed higher on Wednesday, ending their recent slump as trade talks between the US-China and rate-cut expectations from RBI induced positive market sentiment.The S&P BSE Sensex added 261 points to end at 80,998.25, while the NSE Nifty50 was up by 77.70 points to close at 24,620.20.Rupak De, Senior Technical Analyst at LKP Securities, said that the Nifty continues to exhibit a lacklustre sentiment as traders await the RBI rate decision and that the market is likely to remain sideways for another session until the announcement and follow-up commentary on Friday.advertisement
"A bearish crossover in the momentum oscillator RSI signals weakening price momentum, suggesting limited movement in the near term. Immediate support is placed at 24,500; a break below this level could lead to further weakness. On the higher side, resistance is seen at 21,750/21,900," he added.Eternal was the top performer, surging 3.32%, followed by Bharti Airtel which climbed 1.82%. IndusInd Bank also gained 1.79%, while Tech Mahindra rose 1.25%. Reliance Industries rounded out the top five gainers with an increase of 1.23%.Bajaj Finserv plummeted 1.56%. Axis Bank also faced heavy selling, retreating 0.90%, while Tata Consultancy Services fell 0.72%. Titan Company Limited declined 0.60%, and Larsen & Toubro completed the list of worst performers with a loss of 0.58%.
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