CLOSING BELL: Reliance Industries, HDFC twins, ICICI Bank, and Bajaj Finance lifted the benchmark S&P BSE Sensex 740 points higher to end at 58,684

a closer look at the stock market data suggests that this rally isn't a one off

sensex, nifty, stock market, bull

<b>CLOSING BELL</b><br />
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	Cyclical sectors such as financials and autos powered an over 1 per cent march on the benchmark indices on Wednesday as investors cheered de-escalation talks between Russia and Ukraine. Investor sentiment was boosted following negotiations between Russian and Ukrainian officials in Turkey, at which Russia&#39;s deputy defense minister claimed Moscow had decided to &quot;drastically&quot; cut back its military activity near Ukraine&#39;s capital.<br />
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	<strong>ALSO READ:&nbsp;<a href="https://www.business-standard.com/article/markets/sensex-rallies-1-300-pts-in-three-days-here-s-what-is-driving-markets-up-122033000694_1.html" target="_blank">Sensex rallies 1,300 pts in three days: Here&#39;s what is driving the markets</a></strong></div>
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	Againt this backdrop, Reliance Industries, HDFC twins, ICICI Bank, Bajaj Finance, and Kotak Bank lifted the benchmark S&P BSE Sensex 740 points higher to end at 58,684. The NSE Nifty50, meanwhile, leaped 173 points to settle at 17,498. The 50-pack index was additionally supported by Bajaj Finserv, Hero MotoCorp, Grasim, Tata Consumer, M&M, and Axis Bank.</div>
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	However, losses in ITC, Tata Steel, ONGC, Hindalco, JSW Steel, Tech M, Coal India, and IOC kept gains in check.</div>
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	In the broader markets, the BSE MidCap index added 0.7 per cent while the BSE SmallCap index gained 1 per cent.<br />
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	Sectorally, the Nifty Metal index took the hardest knock, sliding over 2 per cent on the NSE. On the upside,the Nifty Financial Services index climbed 2 per cent, and the Nifty Bank and Auto indices added over 1 per cent each.<br />
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	<strong>FY22 wrap</strong><br />
	Even though the frontline indices &ndash; the S&P BSE Sensex and the Nifty 50 &ndash; are set to post a double digit return for the second consecutive financial year in 2021-22 (FY22) with a gain of 17 per cent and 19 per cent respectively, it is the small-caps where all the action was concentrated in the year gone by. <a href="https://www.business-standard.com/article/markets/small-caps-steal-a-march-over-sensex-nifty-index-zooms-35-in-fy22-122033000293_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<strong>Buzzing stocks</strong><br />
	Shares of <strong>Tata Coffee</strong> (TCL) and <strong>Tata Consumer Products</strong> (TCPL) rallied up to 13 per cent on the BSE in Wednesday&rsquo;s intra-day trade after TCPL on Tuesday announced a reorganisation plan in line with its strategic priority of unlocking synergies and efficiencies. <strong><a href="https://www.business-standard.com/article/markets/tata-coffee-tata-consumer-surge-upto-13-on-business-reorganisation-plan-122033000204_1.html" target="_blank">READ MORE</a><br />
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	ALSO READ:&nbsp;<a href="https://www.business-standard.com/article/markets/inverted-us-yield-curve-no-more-a-worry-for-markets-here-s-why-122033000621_1.html" target="_blank">Inverted US yield curve no more a worry for markets; here&#39;s why</a></strong><br />
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	Shares of <strong>Usha Martin</strong> hit an over 14-year high of Rs 136, on soaring 9 per cent on the BSE in Wednesday&rsquo;s intra-day trade extending it&rsquo;s a month long rally. The stock of the wire rope manufacture has zoomed 54 per cent in the past one month as compared to a 4 per cent rise on the S&P BSE Sensex.&nbsp;<a href="https://www.business-standard.com/article/markets/usha-martin-zooms-54-in-4-weeks-stock-hits-over-14-year-high-122033000581_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	Shares of <strong>Raymond</strong> hit a 52-week high of Rs 855, on rallying 13.5 per cent on the BSE in Wednesday&rsquo;s intra-day trade on the back of heavy volumes. The stock of the textiles company surpassed its previous high of Rs 818.25 touched on January 27, 2022. <strong><a href="https://www.business-standard.com/article/markets/raymond-soars-12-hits-52-week-high-on-heavy-volumes-122033000415_1.html" target="_blank">READ MORE</a></strong><br />
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	<strong>Global markets</strong><br />
	European stocks retreated on Wednesday following the latest round of talks between Russia and Ukraine, aimed at finding a solution to the conflict. The pan-European Stoxx 600 fell 0.8 per cent in early trade, with autos shedding 1.9 per cent to lead losses, while oil and gas stocks gained 1.7 per cent.<br />
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	On Wall Street, Dow Jones and S&P 500 Futures were down 0.3 per cent each while Nasdaq Futures slipped 0.4 per cent.<br />
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	In Asia, Nikkei dipped 0.8 per cent, Kospi gained 0.2 per cent, and Hang Seng advanced 1.4 per cent.&nbsp;</div>

Sensex soars 740 pts; Nifty nears 17,500; banks, auto shine, metals sink

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Sensex soars 740 pts; Nifty nears 17,500; banks, auto shine, metals sink | News on Markets - Business Standard

Good morning readers! Catch all the live market updates here with Business Standard

Good morning readers! Catch all the live market updates here with Business Standard&nbsp;

Sensex soars 740 pts; Nifty nears 17,500; banks, auto shine, metals sink

CLOSING BELL: Reliance Industries, HDFC twins, ICICI Bank, and Bajaj Finance lifted the benchmark S&P BSE Sensex 740 points higher to end at 58,684

Good morning readers! Catch all the live market updates here with Business Standard

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