New Delhi, Mar 18 (UNI) Indian stock markets extended their rally for a third consecutive session on Wednesday, with the Nifty crossing the 23,850 mark, supported by broad-based buying across most sectors.
At close, the Sensex was up 633.29 points, or 0.83 percent, at 76,704.13, while the Nifty rose 196.65 points, or 0.83 percent, to 23,777.80.
Broader markets also outperformed, with the Nifty Midcap 100 gaining 2 percent and the Nifty Smallcap 100 rising 1.6 percent. The total market capitalisation of BSE-listed companies increased to over Rs 443 lakh crore from Rs 438 lakh crore earlier.
Among sectors, all indices ended higher except FMCG and metal.
Key sectors, including realty, IT, auto, media, capital goods, consumer durables, telecom, and infrastructure, rose in the range of 1 to 3 percent.
On the Nifty, key gainers included Jio Financial, Tech Mahindra, Infosys, Eternal, and M&M, while losers were Coal India, NTPC, HUL, Cipla, and Sun Pharma.
More than 200 stocks touched their 52-week lows on the BSE. These included Gujarat State Petro, Cipla, Tata Chemicals, Gujarat Gas, Honeywell Automation, and Procter and Gamble Hygiene and Health Care, among others.
The Indian rupee also registered a sharp fall against the US dollar, breaching the 92.50 mark for the first time and settling at a record closing low of 92.63.
IT stocks witnessed a sharp rebound during the session, with key players such as Infosys and HCL Technologies rising over 4 percent, while Tata Consultancy Services and Wipro gained 3.6 percent and 3.17 percent, respectively.
Among pharma stocks, Mankind Pharma rose 1.7 percent after acquiring the Rivotril brand for India, while Strides Pharma Science gained 3 percent after entering into agreements with Sandoz AG, Switzerland.
In Asian markets, Japan’s Nikkei 225 surged 2.9 percent to 55,239.40 following stronger-than-expected export data for February, while South Korea’s Kospi jumped 5 percent to 5,925.03.
