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MARKET WRAP: Indices rise for 2nd day, Sensex up 185 pts; auto stocks rally

All that happened in the markets today

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Markets | Vodafone Idea | ONGC

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Markets continue to rally on RBI policy fillip; Sensex rises 164 points
In the broader market, the S&P BSE MidCap index gained over 1 per cent to settle at 15,019 levels.
The Indian stock market ended in the green for the second consecutive day on Wednesday, led by buying in Reliance Industries (RIL), Mahindra & Mahindra (M&M), Infosys, and TCS. 

Auto stocks traded actively in the trade after data showed automobile sales for most companies in India rose at a brisk pace in August over the same month last year. The Nifty Auto index rallied over 1 per cent to 7,976.95 levels, with 10 out of 15 constituents advancing. 

The benchmark S&P BSE Sensex ended 185 points, or 0.48 per cent higher at 39,086 levels, with M&M (up nearly 6 per cent) being the top gainer. NSE's Nifty ended at 11,535, up 65 points, or 0.56 per cent. India VIX dropped 4 per cent to 20.93 levels. 

Buzzing stocks

Shares of IndiaMART InterMESH continued their northward movement, hitting a new high of Rs 4,596 on the BSE in the intra-day trade on the expectation of strong earnings outlook. The stock settled at Rs 4,575, up around 19.5 per cent. READ MORE 

Shares of Gautam Adani-led Adani Group companies were in focus with Adani Green Energy, Adani Gas and Adani Enterprises rallying up to 10 per cent on the BSE in the intra-day trade. Adani Green Energy was locked in the upper circuit limit of 10 per cent at Rs 546, also its record high on the BSE. It rallied 20 per cent in the past two trading days from the level of Rs 454 on Monday, August 31. READ MORE 

In the broader market, the S&P BSE MidCap index gained over 1 per cent to settle at 15,019 levels while the S&P BSE SmallCap index ended at 14,652, up 1.66 per cent. 

Global markets

China stocks closed mixed on Wednesday as tech shares gained but material and energy shares gained. At the close, the Shanghai Composite index was down 0.17 per cent at 3,404.80, while the blue-chip CSI300 index was up 0.04 per cent. 

In commodities, oil prices rose towards $46 a barrel, gaining for a third day on a report that US crude inventories fell. 

(With inputs from Reuters)

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