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sensex: Sensex ends 54 pts higher after choppy trade; Nifty tops 17,600

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sensex: Sensex ends 54 pts higher after choppy trade; Nifty tops 17,600

Domestic benchmark indices managed to eke out gains for a second straight session after choppy trading on Wednesday with gains in banks offsetting losses in IT stocks, yet again. The domestic market, however, fared better than global peers as hawkish comments from US Fed policymaker kept investors hesitant.

The 30-share pack Sensex rose 54.13 points but managed to end the session above the 59,000 mark. Its broader peer, Nifty50, advanced 27.45 points to top 17,600 level.

was the top gainer in the 30-share pack, rising nearly 3 per cent. , and L&T rose 1 per cent each. On the other hand, , , , , and were among the stocks that settled with cuts. Shares of oil-to -telecom giant, , also ended 0.32 per cent lower a day before the company’s AGM.

shares hit the roof on the Adani deal and jumped 5 per cent. A day after the CreditSights report warned against deep overleveraging in companies led by billionaire Gautam Adani, most Adani stocks were trading in the negative for the second day. While rose nearly 4 per cent, was locked in a 5 per cent lower circuit, was down 4.43 per cent, and also slumped 3 per cent.

Sectorally, the Nifty realty index added 2 per cent while Nifty private bank also rose 1.6 per cent. Nifty Bank and Metal also settled higher. Broader markets outperformed Nifty, with midcap and smallcap rising 0.74 per cent and 0.82 per cent.

The market breadth skewed in favour of bulls. About 2,112 stocks rose, 1,291 fell, and 143 remained unchanged.

More to come…

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