Sensex jumps 80 points, Nifty above 11400; Shriram City Union skyrockets 10.44 per cent, Future Retail locked in at upper circuit

After a steady march throughout the day Sensex and Nifty, witnessed some profit booking in the last hour of the trade on Wednesday. Sensex closed at 38614, up by 86 points or 0.22 per cent whereas Nifty closed at 11408, up by 23 points or 0.20 per cent.

The stocks of Future Retail and Future Consumer of Future Group skyrocketed by 20 per cent and 5 per cent thus, hitting their respective upper circuits and outperforming the broader markets

The PSU banks rallied with the privatisation buzz increasing the demand for the beleaguered banks. Nifty PSU bank index was up by 2.36 per cent on Wednesday with IOB leading the gains by jumping 6.13 by per cent. PNB was up by 4.41 per cent, Bank of India gained 4.84 per cent, Bank of Maharashtra increased by 3.32 per cent and Canara Bank sizzled 3.72 per cent.

As the shares on Wall Street hit all time high, the shares in Europe ticked higher. The European markets were in green with DAX, CAC 40 and FTSE gaining 0.33 per cent, 0.31 per cent and 0.11 per cent respectively.

However, Asian markets traded mixed with Nikkei inching up by 0.26 per cent wheras Shanghai Composite tumbled by 1.24 per cent and Hang Seng slid by 0.75 per cent.

The top gainers on Sensex comprised Tech Mahindra gaining by 1.97 per cent, Bharti Airtel jumped by 1.79 per cent, Maruti Suzuki inched up by 1.61 per cent, ICICI Bank gained by 1.46 per cent and SBI was up by 1.03 per cent.

The top Sensex losers were ONGC down by 1.12 per cent, Bajaj Auto slipped by 1.29 per cent, Nestle India slid by 1.16 per cent, Hindustan Unilever dropped by 0.76 per cent and Kotak Mahindra Bank was down by 1.03 per cent.

Amongst the sectoral indices, BSE Realty once again was one of the best performers gaining by 1.37 per cent. Sobha Developers was the top BSE Realty index gainer. BSE Telecom index, inspired by Bharti Airtel’s performance clocked gains of 1.49 per cent.

BSE Bankex was up by 0.46 per cent and BSE Auto gained 0.14 per cent. BSE Consumer Durables also went up by 0.25 per cent.

BSE Power index was up 0.21 per cent while BSE FMCG index was down by 0.40 per cent. BSE Healthcare slipped by 0.17 per cent and BSE IT was down by 0.49 per cent.

The BSE Small-Cap index continued its dominance by locking in gains of 1.16 per cent whereas  BSE Mid-Cap index gained by 0.66  per cent, thus outperforming Sensex.

IG Petrochemicals, CIGNITI and Sunflag Iron & Steel were the top Small-Cap gainers while Varroc Engineering, Future Retail and Adani Enterprise were the top Mid-Cap gainers on Wednesday.