Stock Market Updates: Sensex Up 200 pts, Nifty Above 18,650; Broader Indices Outperform

Sensex Today: Frontline indices the S&P BSE Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels.

Broader markets, too, exhibited strength as they outperformed benchmark indices. Nifty Midcap 100, and Nifty Smallcap 100 indices climbed up to 0.5 per cent.

All sectors started trade in positive territory, with Nifty IT, Nifty Realty, and Nifty Consumer Durables indices gaining up to 0.4 per cent.

Among individual stocks, shares of Torrent Power soared over 7 per cent after the company signed an MoU with the Government of Maharashtra to develop three pumped storage hydro projects of 5,700 MW capacity.

Besides, shares of Seshasayee Paper declined over 1 per cent after the stock turned ex-dividend today.

Global Cues

Tokyo stocks opened higher on Wednesday, extending modest gains on Wall Street, where beaten-down regional banking shares advanced on a quiet day for markets.

US stocks closed up on Tuesday, helped by some advances in economically sensitive sectors, as investors awaited inflation data and the Federal Reserve’s policy meet next week.

Oil prices steadied on Wednesday after the previous session’s losses, as demand concerns owing to slow global economic growth were offset by fears of tighter global supply following Saudi Arabia’s pledge to deepen output cuts.