Stock market continues to rise, Sensex closed with a rise of 283 points; Nifty crosses 25,800

Share Market Highlights: On Wednesday, the third trading day of the week, the Indian stock market closed in the green with a rise. During this period, the major benchmark BSE Sensex closed at 83,734.25 with a rise of 283.29 points or 0.34 percent, while NSE Nifty closed at 25,819.35 with a gain of 93.95 points (0.37 percent).

The domestic market fell in early trade after opening flat with a slight rise, breaking its two-day winning streak. However, later the market took a turn and showed positive momentum and ended the trading day on a positive note. During this period, except Nifty IT, all the indices of Nifty50 were seen trading in the green.

0.54% rise in Nifty Smallcap

In the broader market, the Nifty Midcap 100 index rose 0.5 percent, while the Nifty Smallcap 100 index closed with a gain of 0.54 percent. Sector wise, Nifty Metal index registered a rise of 1.33 per cent, while Nifty PSU Bank index registered a rise of 1.31 per cent. Besides, Nifty FMCG rose by 1.21 per cent and Nifty Auto by 0.54 per cent, while Nifty IT index declined by 1.23 per cent.

Today’s Top Gainers and Losers

In the Sensex pack, shares of Tata Steel, ITC, Axis Bank, M&M and L&T gained up to 2.90 per cent. While shares of Tech Mahindra, Infosys, Eternal, HCL Tech and TCS were among the top losers.

Limited action of both FIIs and DIIs

Foreign institutional investors (FIIs) bought Rs 995 crore in the cash market, but on overall basis there was light selling of Rs 237 crore. At the same time, domestic institutional investors (DIIs) made nominal purchases of Rs 187 crore for the fourth consecutive day. This shows that big investors are adopting a cautious approach at the moment.

Also read: Share Market Update: Stock market sluggish, Sensex slips below 83500, Nifty at 25,725 level

Big agreements between India and France

Prime Minister Narendra Modi and President of France Emmanuel Macron More than 20 agreements were announced in the meeting. Both the countries have extended the defense cooperation agreement for the next decade. With this, defense sector companies can remain in focus.