The Nifty 50 index rose 1.13 per cent or 178.95 points to 15,989.8, while the S&P BSE Sensex rose 1.16 per cent or 616.62 points to 53,750.95.
Sensex and Nifty closed in the green.
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- Crude oil prices had fallen by 9 per cent on Tuesday.
- Nifty FMCG Index was the best performing subindex
- Nifty Financial Services index rose 1.6 per cent
Sensex and Nifty posted their best sessions in two weeks on Wednesday as finance and consumer goods stocks rose, with an overnight fall in crude oil prices to ease some inflationary concerns.
The NSE Nifty 50 index rose 1.13 per cent or 178.95 points to 15,989.8, while the S&P BSE Sensex climbed 1.16 per cent or 616.62 points to 53,750.95, both indices marking their best session since June 21.
Inflation and interest rate hikes aimed at countering rising prices The first half of 2022 has weighed on the Nifty and the Sensex, with the index down nearly 8 per cent so far this year.
The Nifty FMCG index was the best-performing subindex on Wednesday, rising 2.64 per cent, helped by a fall in palm oil prices and Britannia Industries rising 4.8 per cent in its best session since July 2020.
The Nifty Financial Services index with non-bank lender Bajaj Finance climbed 1.6 per cent after reporting strong loan additions in the June-quarter.
Shares of domestic explorers Oil and Natural Gas Corp and Oil India fell 5.1 per cent and 8.6 per cent, respectively, after falling oil prices. Oil producers have been under pressure since last week following the government’s move to impose unexpected taxes.
SpiceJet shares fluctuated after the aviation regulator issued a notice to the airline over a security lapse. After falling 4.2 per cent earlier in the session, the stock closed up 2.3 per cent.
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