New Delhi: The market on Wednesday gained strength following rally in global peers on easing of Brexit concerns.
The Sensex gained 215.84 points or 0.81 percent at 26740.39, and the Nifty was up 76.15 points or 0.94 percent at 8204.
The broader markets marginally outperformed benchmarks as the Midcap index rose 0.98 percent and Smallcap rallied 1.31 percent.
Shares such as Hero MotoCorp, NTPC, Wipro, BHEL and GAIL were top gainers while Lupin, Coal India, ITC, Bharti Airtel, and Adani Ports were losers in the Sensex.
The Cabinet’s approval for the 7th pay hike and Model Shop and Establishment Act also boosted sentiment in later part of trading session as that may lift consumption growth.
European stocks continued their rally for the second consecutive session today as global markets realized the status quo in the European Union (EU) after the Brexit vote.
SBI today announced that it will raise long-term capital up to USD 1.5 billion (over Rs 10,000 crore) by issuing bonds in US dollar or other convertible currency.
In a BSE filing the country’s largest lender announced the outcome after an executive committee meeting.