Image Source stewardshipfinanceacademy
Shares of Mahindra & Mahindra, Power Grid Corporation, State Bank of India, ICICI Bank, and Adani Enterprises drove gains in the Nifty 50 on Wednesday. The Nifty IT index rose 1.6%, the Nifty Auto sector increased by 1.1%, and the Nifty Bank saw a 0.3% uptick, aided by a 1.2% rise in ICICI Bank.
Key factors for the market’s rise included:
- Increased IT stocks
- PMI rising to 59.0 in February from 56.5 in January
- Positive trends in Asian and global markets
- Rupee appreciating by 9 paise to 87.10 against the US dollar
- Decline in crude oil prices
Trade Highlights:
- Nifty IT index surged over 2%
- HPCL, BPCL, and IOC shares rallied up to 5% after OPEC+’s production boost
- Coforge shares jumped 10% following a stock split and acquisitions
- BSE shares fell 9% after NSE moved F&O expiry days to Monday.
(Newsroom staff only edited this story for style from a syndicated feed)
