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Sensex, Nifty edge higher; Axis Bank, Bajaj Auto Top Gainers

Indian equity benchmarks surged higher on Wednesday, a day after the country’s economic growth surged to a record 20.1 per cent in April-June compared to the same period a year ago, mainly driven by manufacturing and construction, finance. was in the first quarter of the year. The statistics ministry said on Tuesday. The Sensex rose 214 points to a record high of 57,765.92 and the Nifty 50 index hit an all-time high of 17,187.

As of 27 am, the Sensex was up 176 points at 57,728.57 and the Nifty 50 index was up 50 points at 17,182.

Meanwhile, Asian stocks gave up some of their recent gains in cautious trading on Wednesday, while the dollar bounced back from a three-week low, as worries about slowing global growth in many markets returned to traders’ minds. .

Back home, thirteen of the 15 sectors compiled by the National Stock Exchange were trading higher with the Nifty Bank index gaining 1 per cent. Nifty Private Bank, PSU Bank, Realty, Consumer Durables, Oil & Gas and Media indices also rose between 0.5-1.4 per cent.

On the other hand, there was slight selling pressure in metal and IT stocks.

Light buying was seen in mid- and small-cap stocks as Nifty Midcap 100 index rose 0.6 per cent and Nifty Smallcap 100 index rose 0.3 per cent.

Axis Bank was the top Nifty loser, with the stock rising nearly 4 per cent to Rs 815. Bajaj Auto, Asian Paints, Eicher Motors, Larsen & Toubro, IndusInd Bank, Nestle India, Bajaj Finance, SBI Life, Reliance Industries, Hindustan Unilever and UltraTech Cement also rose between 0.85-2.8 per cent.

On the flipside, Tata Steel, Maruti Suzuki, HDFC, Hindalco, Tech Mahindra, JSW Steel, Mahindra & Mahindra, Coal India, Adani Ports, Indian Oil and HCL Technologies were among the losers.

Overall market breadth was positive as 1,688 shares were leading while 874 shares were falling on the BSE.

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