In the broader market, the BSE midcap gauge climbed 0.97 per cent and the smallcap index gained 1.29 per cent.
Also Read : Stocks to watch: Wipro, HUL, Axis Bank, Bajaj Finance, Tata Power, Abbott
Realty and FMCG sectors were top gainers today. Nifty FMCG index surged to all-time high levels post the healthy results from Tata Consumer and Nestle, which reflected an improvement in demand and an easing of inflationary cost pressures, said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Among sectoral indices, realty jumped 1.30 per cent, capital goods climbed 1 per cent, telecommunication (0.88 per cent), industrials (0.71 per cent) and FMCG (0.61 per cent). Metal, healthcare and energy ended in the red.
“Nifty ended in the positive for the third consecutive session…Most global equities fell on Wednesday after softening US data and renewed banking sector concerns fanned fears of a recession and dampened risk appetite,” Deepak Jasani, Head of Retail Research, HDFC Securities, said.
In Asian markets, Hong Kong ended in the green, while Tokyo and Shanghai settled lower. Equity markets in Europe were trading in negative territory. The US markets had ended sharply lower on Tuesday. Meanwhile, global oil benchmark Brent crude climbed 0.17 per cent to USD 80.91 per barrel.
Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 407.35 crore on Tuesday, according to exchange data.
“The short-term trend of the market continues to be positive. The Nifty is now reaching the important resistance of 17,863 levels in the short term.
“There is a possibility of minor consolidation movement at the highs before showing a decisive upside breakout for the near term. Immediate support is at 17,700 levels,” Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said.