Indian equity markets remained range bound almost all the day as investors were cautious ahead of the FOMC meeting outcome later tonight. But in last one hour of the trading session both the indices witnessed a sharp pull-back on the back of short-covering rally ahead of the US Federal Reserve meet and breached their respective psychological levels. The broad-based index Nifty rose by 49.25 points and closed at 5899.45 up 0.84%, while Sensex, zooming by 158.13 points wrapped up the session at 19962.16 up 0.80%.
The Indian currency opened the day at 63.25 per dollar, slightly stronger than Tuesday’s close, and has since gained further ground against the greenback. A weak dollar as well as the recent RBI measures are said to be propping up the rupee today. Global markets gain as well, as investors await the conclusion of the Federal Reserve's Monetary Policy meeting. Key Asian indices end the day in the green. European markets edge higher and the US futures indicate a positive opening for Wall Street.
All the sectoral indices ended the day in the green terrain today except the CNX Metal, which remained unchanged after the day-long volatility and closed at previous day’s level. Today’s pull back rally was led by the interest rate sensitive stocks; CNX PSU Bank being the largest surging index by 2.35% followed by CNX Realty (2.09%) and Bank Nifty (1.64%).
Market breadth remained positive today as 601 stocks rose against 564 declined while 66 remained unchanged.
Out of 50 stocks of Nifty index, 36 advanced and 14 declined.
Top Five Nifty gainers: DLF led the Nifty Gainers list and registered 4.91% gain and joined by NTPC (4.00%), Tata Power (3.97%), Grasim (3.72%) and Bank of Baroda (3.31%).
Top Five Nifty Losers: BHEL was the biggest loser of the day and fell by -4.43% and followed by Hero Moto Corp (-2.95%), Sesagoa (-1.55%), Cairn (-1.39%) and NMDC (-0.97%).
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