The BSE benchmark Sensex continued to trade higher on Wednesday on the back of buying seen in IT, oil & gas, metal and realty stocks. The 50-share Nifty continued to trade above its crucial psychological level of 8,700 supported by gains in Coal India, Reliance Industries and TCS.
Buying was visible in most of the sectors. Real estate stock came in high demand after the banks passed on the effect of rate cut done by Reserve Bank earlier this year by reducing lending rates. The move will help in boosting sales of the houses as it will reduce the EMI burden on the buyer. The BSE Realty index jumped nearly 3 per cent.
IT stocks were also witnessing buying interest as the IT index on the BSE jumped nearly 1.5 per cent. Healthcare, metal, consumer durables, auto and realty indices were also quoting higher by over 0.5-1 per cent each.
The broader markets were seen outperforming the benchmark indices. The BSE mid-cap index advanced 0.8 per cent and the small-cap index jumped 1.45 per cent.
From the Nifty pack, Coal India was the top gainer. The stock jumped 6 per cent to Rs 382. Bharat Petroleum, Reliance Industries, UltraTech Cement, Tech Mahindra, Asian Paints, Bharti Airtel, Infosys and TCS were also trading higher by over 1 per cent each. While, Sesa Sterlite, Idea Cellular, NTPC, ONGC, Cairn India and NMDC were among the laggards.
At 11:16 a.m., the Sensex was up 134 points at 28,650 and the Nifty jumped 41 points to 8,701.
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