Mumbai:
After a long gap, the local stock markets closed for the third consecutive day on Wednesday due to the huge buying in legendary companies L&T, HDFC Bank and Reliance Industries amid buying by foreign investors. However, the shares of the major companies of the Information Technology (IT) sector saw a slight adverse impact on the business perception of investors due to heavy selling.

BSE’s 30 -share standard index Sensex climbed 147.79 points, or 0.20 percent, to close at 75,449.05 points. At one time during trading, it rose 267.12 points to 75,568.38 points. The National Stock Exchange (NSE) standard index Nifty also rose 73.30 points or 0.32 percent to 22,907.60 points.

Among the Sensex companies, Tata Steel, Zomato, Power Grid, UltraTech Cement, IndusInd Bank, Larsen & Toubro, Adani Ports, NTPC, State Bank of India and Reliance Industries were prominently profitable. On the other hand, the shares of Tech Mahindra, Tata Consultancy Services, ITC, Infosys, Sun Pharma, Maruti Suzuki, HCL Tech and Nestle declined.

Vinod Nair, head of research of Jiojit Financial Services, said, “The domestic market continued its positive pace. However, this phase of growth after the decline will depend on improvement in basic aspects. “Nair said,” The business will be deeply monitored by the US Federal Reserve’s monetary policy and comments amidst the concerns related to business uncertainty and growth. ”

In other markets of Asia, South Korea’s Hongseng of Korea and Hong Kong were in the lead, while Nikki of Japan and Shanghai Composite of China were in loss. Europe’s markets saw a mixed trend in the afternoon session. The American markets were closed on Tuesday.

According to the stock market data, foreign institutional investors (FIIs) purely diverted shares worth Rs 694.57 crore. At the same time, domestic institutional investors (DII) bought shares worth Rs 2,534.75 crore. Global oil standard brent crude fell 0.78 percent to $ 70.01 per barrel. On Tuesday, the Sensex rose 1,131.31 points to 75,301.26 points and NSE Nifty rose 325.55 points to 22,834.30 points.

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