Market Wrap June 26: Sensex closes 157 pts higher, Nifty near 11,850

Benchmark indices ended higher for the second consecutive session on Wednesday, lifted by gains in metal stocks.

The benchmark S&P BSE Sensex settled 157 points, or 0.4 per cent, higher at 39,592, with Vedanta, Powergrid, Sun Pharma, YES Bank, and Tata Steel among the top gainers The broader Nifty50 index also crossed the 11,800-mark and closed the day at 11,848, up 51 points, or 0.43 per cent. About 1,418 shares advanced, 1,051 declined, and 170 remained unchanged on the NSE. 

All the Nifty sectoral indices except Nifty IT and Nifty FMCG ended with gains, led by Nifty Metal, up 2.7 per cent, and Nifty PSU Bank index, up 1.88 per cent.

In the broader market, the S&P BSE MidCap index climbed 117 points, or 0.8 per cent, to 14,792, while the S&P BSE SmallCap was ruling around 14,175, up 66 points, or 0.47 per cent.

BUZZING STOCKS

Shares of SBI Life Insurance Company hit a 52-week high of Rs 715 per share, up 6 per cent intra-day, on the BSE on Wednesday with heavy buying being seen at the counter in respose to excessive bids being received for stake sale. The stock closed the day 6.17 per cent higher at Rs 716.55. 
 

Dewan Housing Finance Corporation (DHFL) shares dipped 9 per cent to Rs 68.70 on the BSE during intra-day trade on Wednesday after the company said it has defaulted on unsecured commercial paper (CP) of Rs 225 crore that matured on Tuesday. The stock, however, recovered to close 5.77 per cent higher at Rs 79.75.