Market Update: Equity benchmarks snapped two-day losing streak and ended at six-month closing high on Wednesday after Q3 GDP data surprised economists and expansion in manufacturing PMI. The rally was backed by FMCG, metals, banking & financials, and pharma stocks. Global cues, too, were positive after investors digested US President Donald Trump’s address to Congress. The BSE Sensex rallied 241.17 points to 28,984.49, the highest closing level since September 8, 2016. It touched an intraday high of 29,029.17 while the NSE Nifty rose 66.20 points to close at 8,945.80 after hitting a day’s high of 8,960.80.
Expert Views: Experts expect the rally to continue in current month, though there may be intermittent consolidation.
Today’s Top Gainers: Tata Steel, M&M, Kotak Mahindra, Hindalco, Dr Reddys Labs
Today’s Top Losers: Idea Cellular, GAIL, NTPC, Eicher Motors, Tata Motors