Equities gain for fourth straight session; Sensex up over 500 pts

New Delhi : The Indian equity indices — S&P BSE Sensex and NSE Nifty50 — traded in the green for the fourth consecutive session on Wednesday.

Return of foreign portfolio investors (FPIs) into the Indian equity market, and likely ease in inflation in the US have supported the market sentiments, analysts said.

So far in 2022, FPIs have infused Rs 3,953 crore into the equity segment, the National Securities Depository data showed.

On Wednesday, the Sensex and Nifty settled at 61,150 points and 18,212 points, both up 0.9 per cent from their previous close, respectively. Sensex rose over 500 points.

Almost all Nifty indices rallied during the session, NSE data showed.

On the stocks front, Mahindra and Mahindra, Bharti Airtel, Indusind Bank, Reliance Industries, and Hindalco rose the most, rallying 4.5 per cent, 3.7 per cent, 2.8 per cent, 2.5 per cent, and 2.3 per cent, respectively.

Titan, TCS, Shree Cement, Britannia, and Cipla, on the other hand, declined the most during the session.

“Led by realty, auto, energy and banking stocks, the benchmark indices continued their winning streak for the fourth consecutive day despite the fast spread of Covid cases. Globally, sentiments were positive ahead of the release of US inflation data as the Fed Chair’s testimony eased inflationary worries,” said Vinod Nair, Head of Research at Geojit Financial Services.

“Realty stocks continued its upward rally on healthy business updates resulting in improved outlook. The initial result updates of major IT firms will determine the momentum of the week ahead,” he added.