Stock Markets edged higher on Wednesday after two consecutive days of falls. The BSE Sensex rose 304.83 points to 37,717.96. The Nifty 50 index ended 82.40 points higher at 11,369.90. The Rupee recovered after hitting a record low of 72.91 against US dollar.
Power Grid, Sun Pharma, Adani Ports and ITC were among the top gainers on the NSE, while Axis Bank, Tata Motors, HPCL and IOC were major losers.
Among sectoral indices, the Nifty FMCG index ended 2.55% led by a rise in the share prices of GlaxoSmithKline Consumer Healthcare, ITC and United Breweries Ltd. The Nifty Pharma index also advanced 1.09% led by Sun Pharma, Divis Lab and Lupin as major gainers.
Shares in Sugar production companies rose after the Union Cabinet in its meeting today approved increasing ethanol prices by up to 25 percent. Getting impacted on the news, interestingly shares of Shree Renuka Sugars advanced 11.74 percent, followed by Dhampur Sugar Mills 9.72%, Ugar Sugar up 5.81%, Sakthi Sugar 5.67% and Mawana Sugar up 2.11%, on Wednesday.
The Stock Markets, NSE and BSE will remain closed on Thursday, 13 September on account of GANESH CHATURTHI.
BUY WIPRO FUTURE ABOVE 334 TARGETS 337.2
SELL JUBLFOOD FUTURE BELOW 1312 TARGETS 1292