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Indices end larger for 4th straight session; Sensex tops 60,000 mark

Mumbai, Aug 17 (IANS): Benchmark indices ended higher on Wednesday, with Sensex topping 60,000 mark as investors sentiments got boosted on softening inflation and strong buying by international buyers.

At close, Sensex ended up 417.92 factors or 0.70 per cent at 60,260.13, and Nifty ended 119.00 points or zero.67 per cent larger at 17,944.25. About 2,019 shares have superior, 1,405 shares declined and 132 remained unchanged.

BSE midcap ended up 0.64 per cent, whereas BSE SmallCap and BSE LargeCap closed 0.53 per cent and zero.71 per cent, respectively.

BSE IT index and BSE Consumer Durables index ended over 1 per cent up on Wednesday.

Bajaj Finserv, Bajaj Finance, Tech Mahindra, Bharti Airtel, amongst others had been high gainers on the BSE on Wednesday.

“Bulls on Dalal Street saved the momentum going as Sensex zoomed past the psychological 60,000-mark and Nifty inched towards 18,000 level on the back of softening inflation and strong FII shopping for within the current month. While global elements stay hazy, India is seen as a bright spot in at present’s difficult instances,” stated Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.

Meanwhile, Asian markets had been buying and selling mixed on Wednesday following the Wall Street trades overnight.

European markets were trading lower after blended cue from Wall Street, having struggled to build constructive momentum thus far this week.

“Bank Nifty is consolidating near 39,500 level the place we can expect some profit reserving towards 38,700-38,400 zone whereas if it sustains above 39,500 stage then we will count on a transfer in the path of 40,000 level,” mentioned Santosh Meena, Head of Research, Swastika Investmart Ltd.

 

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