The broader market outperformed benchmark indices. The S&P BSE Mid-Cap index was up 0.88% while the S&P BSE Small-Cap index rose 0.66%.
The market breadth was strong. On the BSE, 1818 shares rose and 976 shares fell. A total of 144 shares were unchanged.
In yesterday's trading session, foreign portfolio investors (FPIs) bought shares worth Rs 986.30 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 490.03 crore, provisional data showed.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 8,63,83,986 with 18,67,676 deaths. India reported 2,27,546 active cases of COVID-19 infection and 1,50,114 deaths while 99,97,272 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Economy:
The Union Budget for 2021-2022 will be presented on February 1 and President Ram Nath Kovind will address a joint sitting of both the Houses of Parliament on January 29.
Buzzing Index:
The Nifty FMCG index slipped 0.52% to 34,540, snapping its three day winning streak. The index gained 1.59% in three trading days.
Venkys (India) (down 4.55%), ITC (down 1.8%), Hindustan Unilever (down 0.81%) and Nestle India (down 0.21%) declined.
Global Markets:
Asian stocks were mixed on Wednesday as investors anxiously awaited results of U.S. runoff elections that would determine the legislative balance of power in the world's largest economy.
A private survey showed services sector activity in China expanding at a slower pace in December, with the Caixin/Markit services Purchasing Managers' Index coming in at 56.3. That compared against November's reading of 57.8.
US stocks ended higher on Tuesday in choppy trading, ahead of the outcome of the Senate runoff elections in the battleground state of Georgia, which will determine the balance of power in Washington.
Investors also looked ahead to two key elections in Georgia, which will determine whether Republicans can hold on to control in the Senate. Many fear that increased tax rates and more progressive policies could weigh on the market if Democrats gain control of the Senate. However, such an outcome could create an opportunity for a bigger and faster spending package.
In U.S. economic data, the Institute for Supply Management said its manufacturing index rose to 60.7 in December its highest level since August 2018 from 57.5 in November.
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