The Indian stock market moved into the deep green on Wednesday, snapping a two session losing streak as positive global cues and other factors boosted investor sentiment.Sensex gained over 630 points to 77,110, while Nifty 50 rose over 184 points to near 24,050 on Wednesday afternoon. This came as India VIX, which measures volatility in market, dropped around 2% to 13.37. The sharp gains added nearly Rs 2.5 lakh crore to the total market capitalisation of all companies listed on BSE, pulling it up to around Rs 477 lakh crore.Eternal shares rallied over 4% to lead gains on Sensex. Asian Paints, Adani Ports and Hindustan Unilever shares meanwhile gained around 3% each to follow. Bucking the trend, IT stocks including Tech Mahindra and HCL Technologies dropped 2-3% to lead losses.Broader markets however underperformed benchmark indices. Nifty Midcap 100 and Nifty Smallcap 100 indices are up around 0.2% each. Sectorally, Nifty FMCG and Nifty Realty gained around 2% each to lead gains, while Nifty Metal and Nifty IT dropped nearly 1% each. Around 1,914 stocks advanced on NSE, while 1,258 declined and 94 remained unchanged.
Why is market rising today? Sensex gains 630 points, Nifty nears 24,050. 3 key factors
Indian stock markets surged on Wednesday, breaking a two-day losing spell. Positive global sentiment and other factors propelled investor confidence, with Sensex and Nifty 50 registering significant gains. The market capitalization saw a substantial increase, adding nearly Rs 2.5 lakh crore. While FMCG and Realty sectors led the charge, IT stocks experienced a downturn.
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