Sensex climbs 526 points, Nifty closes above 22,100

Mumbai: Benchmark Sensex climbed 526 points while Nifty closed above the 22,100 level on Wednesday following buying in banking, auto and oil shares after positive macro data. The 30-share BSE Sensex climbed 526.01 points or 0.73 per cent to settle at 72,996.31 with 18 of its stocks advancing and 12 closing lower. During the day, it jumped 668.43 points or 0.92 per cent to 73,138.73. The broader Nifty of NSE rebounded by 118.95 points or 0.54 per cent to close at 22,123.65. As many as 22 Nifty shares gained while 27 declined and one closed unchanged. Auto, banking and energy shares supported the recovery while FMCG and IT shares declined due to profit taking.

Among Sensex shares, Reliance Industries rose the most by 3.6 per cent, adding more than 312 points to the upside. Maruti, Bajaj Finance, Titan, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Mahindra & Mahindra and Larsen & Toubro were among the major gainers. Wipro, HCL Technologies, Nestle, Tata Consultancy Services and Tata Motors were among the laggards. Vinod Nair, Head of Research at Geojit Financial Services, said: “Stock-specific actions and positive undercurrents due to a healthy economic growth forecast led the market towards a positive closure. However, due to the holiday-led truncated week, investors are now focusing on US GDP data tomorrow and next week’s RBI policy announcement to gauge market direction.