Nifty above 18200. Sensex above 61150. M&M tops Nifty

Upward trend-62212d1d

Indian benchmark indices rallied for another day. Both Nifty and Sensex added more than 0.8 gains. Sensex added 533 points to end at 611150.04 while Nifty gained 156 points to close at 18212.3. 

Most of the indices were in green. Even the losses on losing sectors were also not significant. Nifty Realty, Auto, Private Banks, and metals rallied over 1%. Nifty IT and Pharma ended flat. Mid-cap and small-cap indices gained today. M&M topped Nifty 50 with 4.65% gains while Titan stood at last place with 1.52% fall.

IT majors Wipro, TCS and Infosys have to declare Q3 results today. The entire IT pack performance in upcoming days will depend upon these results and the respective companies guidance. 

On the other hand, the World Bank increased the growth forecast from 7.5% to 8.7% for India, for FY23. It seems like this news also helped today’s rally.

Raghuveer Jandhyala

Editor, Tax Concept. I have written on market, finance, management, and technology.

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