Business

Nifty closes at record high with most sectors in green

The Nifty closed at a record high of 22,753.8 on Wednesday, up 0.49%. Deepak Jasani from HDFC Securities stated, “The Nifty formed a high wave type candle and ended at a record closing high.” Barring pharma and auto, all sectors ended in the green, with oil & gas, PSU banks, FMCG, and metals as the top gainers.

Siddhartha Khemka from Motilal Oswal Financial Services mentioned, “Oil & gas, PSU banks, FMCG, and metals were the top gainers.” The Bank Nifty also touched a record high of 49,057 on Wednesday due to a rally in PSU banks. The market will take cues from global peers with the US releasing inflation data and the ECB interest rate decision.

Asit C. Mehta Investment Intermediates reported that the Indian equity market opened on a positive note, driven by strong global cues. The smallcap and midcap stocks led gains in the broader indices, with sectors like media, oil & gas, metal, FMCG, PSU banks, and IT witnessing buying interest while pharma stocks remained under pressure.

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