Nifty overcame early volatility to end higher for the third session on Wednesday. At close, Nifty was up 0.25 per cent or 47.6 points at 19,444, while the Sensex rose 213 points to settle at 65,433.30.
Volumes on the NSE was higher than the previous two days. The broad market indices rose more than the Nifty even as the advance decline ratio remained firm at 1.47:1, said Deepak Jasani, Head of Retail Research at HDFC Securities.
The Indian market recovered after long consolidation, as mostly the push came from the banking sector, Choice Broking said in a note.
Bank Nifty advanced 1.10 per cent to settle at 44,479.05. NSE mid-cap and small-cap convincingly moved on the higher side as well.
While maximum sectors ended in green, Nifty Energy and FMCG ended by half of per cent.
Vinod Nair, Head of Research at Geojit Financial Services, said global markets have restrained from making significant moves as they await the outcome of the central bankers' gathering at Jackson Hole scheduled on Friday.
With the earnings season nearing its end, the heightened possibility of another rate hike in the US, along with the resultant increase in bond yields, are expected to keep the global market’s volatility high.
On the domestic front, sentiments remained positive, backed by strong demand in the banking sector, though IT and pharma limited the gains, Nair said.
Startup funding jumps 2.3 times to $357 million this week
India’s startup ecosystem witnessed a strong funding rebound this week, with total investments soaring over 2.3 times to around $357.29 million across 30 deals, compared to $152.49 million raised by 23 startups last week.
India steps up vigil against cheap Chinese imports amid US tariff hike
India has stepped up vigil to prevent the dumping of cheap Chinese imports in the country after the steep US tariff hike on the goods exported by the Communist country.
Rupee strengthens against dollar amid Trump's reciprocal tariffs
The Indian rupee witnessed sharp gains on Friday at below 85 against dollar, as the dollar index and oil prices dropped sharply amid concerns over recession in the US economy after the reciprocal tariffs were announced.
Sensex, Nifty open lower amid weak global cues post Trump tariffs
Indian frontline indices opened in the red on Friday following global sell-off in the equity markets in reaction to the reciprocal tariffs announced by US President Donald Trump.