Markets climb for 4th day as Sensex rises 350 pts to reclaim 63K mark

The rupee appreciates by 8 paise to 82.52 against dollar

MUMBAI: Equity benchmark Sensex climbed over 350 points to reclaim the 63,000 mark on Wednesday, propelled by robust buying in metal, energy and FMCG stocks amid a mixed trend in global equities.

Fresh foreign capital inflows and a strengthening rupee also supported the domestic equity markets, traders said.

Rising for the fourth straight session, the 30-share BSE Sensex climbed 350.08 points or 0.56 per cent to settle at 63,142.96. During the day, it jumped 403.55 points or 0.64 per cent to 63,196.43.

The NSE Nifty advanced 127.40 points or 0.68 per cent to end at 18,726.40.

Nestle was the biggest gainer on the Sensex chart, rising nearly 3 per cent, followed by Tata Steel, Tata Motors, Bharti Airtel, Larsen & Toubro, Power Grid, NTPC, Tata Consultancy Services, Tech Mahindra, Infosys and Axis Bank.

On the other hand, Kotak Mahindra Bank, Maruti, Bajaj Finance, Mahindra & Mahindra and ICICI Bank were the laggards.

In the broader market, the BSE smallcap gauge climbed 1.15 per cent and the midcap index climbed 1.09 per cent.

All indices ended in the green, where telecommunication jumped 2.99 per cent, metal jumped 1.70 per cent, realty (1.52 per cent), oil &

In the broader market, the BSE smallcap gauge climbed 1.15 per cent and the midcap index climbed 1.09 per cent

gas (1.34 per cent), power (1.25 per cent), energy (1.06 per cent), FMCG (1.06 per cent), commodities (0.95 per cent), healthcare (0.93 per cent), consumer discretionary (0.81 per cent) and IT (0.83 per cent).

“Global stock markets were mixed on Wednesday as weak Chinese trade data had investors fretting about softening global demand, while at the same time expecting Chinese Govt to undertake measures to stimulate its economy,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

In Asian markets, Seoul, Shanghai and Hong Kong ended in the green, while

Tokyo settled lower.

Equity markets in Europe were trading on a mixed note. The US markets ended in positive territory on Tuesday.

The Reserve Bank’s ratesetting monetary policy panel began deliberations on Tuesday and the decision would be announced on June 8.

The rupee gained 8 paise to settle at 82.52 against the US dollar on Wednesday.

Global oil benchmark Brent crude climbed 0.10 per cent to $76.45 a barrel. Foreign Institutional Investors (FII) bought equities worth Rs 385.71 crore on Tuesday, according to exchange data.