NIFTY ENDS ABOVE 17,500, SENSEX RISES 147 POINTS, IT AND POWER LAG

According to preliminary closing statistics, the S&P BSE Sensex, the barometer index, increased by 146.59 points, or 0.25%, to reach 59,107.19. To reach 17,512.25, the Nifty 50 index increased by 25.30 points or 0.14%. The Sensex has grown by 3.27% over the course of four days, while the Nifty has risen by 2.93%.

On Wednesday, the Indian Rupee sank to a new record low versus the US dollar. The price of the currency is at 82.90 after starting the day at 82.3225, touching a new all-time low of 82.96.

Furthermore, the selling pressure brought on the FII selling has been fully overpowered by vigorous DII purchasing. The cash market saw a total of Rs 5,290 crore worth of stock purchases during the last three sessions by DIIs, much outpacing the Rs 1,537 crore worth of stock sales by FIIs.

The biggest gainers on Wednesday for the Sensex pack included Nestle India, Housing Development Finance Corporation (HDFC), RIL, ITC, Axis Bank, and HDFC Bank. The top laggards, on the other hand, included NTPC, State Bank of India (SBI), Bajaj Finserv, HCL Technologies, Dr Reddy's Laboratories, and Infosys.

Tuesday saw a little increase in the US dollar's value versus a basket of currencies as it recovered some of the losses from the previous session. However, the return of risk appetite on the international financial markets limited the dollar's gains.