Banking & FMCG stocks drive Sensex up 567 pts, Nifty above 23,150

The domestic share market indices ended higher, with Nifty closing above 23,150 on Wednesday, supported by HDFC Bank's robust Q3 results, which bolstered investor sentiment despite pressure from losses in energy, metal, and PSU bank stocks. Gains in IT shares further aided the market's positive finish.
At close, the Sensex was up 566.63 points or 0.75 percent at 76,404.99, and the Nifty was up 130.70 points or 0.57 percent at 23,155.35. About 1110 shares advanced, 2677 shares declined, and 107 shares unchanged.
Wipro, Infosys, TCS, Tech Mahindra, Sun Pharma were the top gainers on the Nifty, while losers included Bharat Electronics, Tata Motors, Trent, Axis Bank and Power Grid.
On the sectoral front, Nifty IT index rose 2 percent, while pharma and private bank indices up 0.5 percent each. On the other hand, realty index shed 4.5 percent, while media, metal, energy, consumer durables, oil & gas, PSU bank down 0.5-1.5 percent. Nifty Midcap and Smallcap indices down 1.5 percent each, according to information.
Rupee Close:
On 22 Jan'25,the Indian rupee ended 25 paise higher at 86.33 against the US dollar on Wednesday,up nearly 0.3% on the day.While the currency came under pressure earlier in the session and was supported by dollar-selling intervention by the Indian central bank, it ticked up in the latter half of the day on the back of dollar sales by foreign banks, forex traders reportedly stated. At least three local private banks were also spotted offering dollars, aiding the rupee, a trader at a state-run bank stated.
The RBI also likely conducted dollar-rupee buy/sell swaps, which prompted a decline in forward premiums, traders reportedly stated. The 1-year dollar-rupee implied yield dropped to 2.27%, its lowest level since July last year, according to information.
Trading Guide:
Market experts have recommended five shares to buy-Amines and Plasticizer, Paradeep Phosphates, Tainwala Chemicls, RMC, and Technichem Organics.       

(Business Correspondent)