Sensex rises 393 pts, Nifty closes above 19,800 on gains in energy FMCG shares

Sensex & Nifty rose on Wed, driven by buying in energy, FMCG & capital goods shares. Wipro gained most, while HCL Tech fell. Market breadth was strong, with 2,353 stocks closing with gains. US Fed's dovish comments & easing inflation concerns supported the rally. FIIs offloaded shares worth ₹1,005.49 cr. Global markets mixed, with Hang Seng, Kospi & Nikkei up, Shanghai Composite down.

Benchmark Sensex rose by 393 points while Nifty closed above the 19,800 level on Wednesday on buying in energy, FMCG and capital goods shares amid mixed global cues and easing inflation concerns.

Rising for the second straight session, the 30-share Sensex spurted by 393.69 points or 0.6 per cent to close at 66,473.05, with 24 of its constituents ending in the green. Six stocks declined.

The broader Nifty of the NSE advanced 121.50 points or 0.62 per cent to settle at 19,811.35, as 37 index shares gained while 12 declined and one closed unchanged.

Buying was seen in FMCG, energy, metal, pharma and private bank shares, while most IT shares declined ahead of the announcement of quarterly financial results.

Among Sensex stocks, Wipro gained the most by 3.29 per cent. Ultratech Cement, Reliance Industries, Hindustan Unilever, Nestle, NTPC, M&M, HDFC Bank, ITC, Kotak Bank and Axis Bank were among the winners.

On the other hand, HCL Tech fell the most by 1.24 per cent. SBI, TCS, Infosys, IndusInd Bank and Tata Steel also dropped.

"The total market breadth was strong, as investors believe that the Middle East skirmish will be contained within the region and should not impact the crude price," Vinod Nair, Head of Research at Geojit Financial Services said.