Stock market today: Indian equity markets extended their winning streak to a fifth consecutive session on Wednesday, with the Sensex rising nearly 384 points to close above the 77,000 mark. Buying in heavyweight financial, FMCG and automobile stocks, supported by foreign fund inflows and easing crude oil prices, lifted investor sentiment.
The 30-share BSE Sensex advanced 383.55 points, or 0.50%, to settle at 77,301.40, marking its highest closing level in more than two months. During the session, the index climbed as much as 478.19 points, or 0.62%, to hit 77,396.04. Over the five sessions through Wednesday, the Sensex gained more than 4,000 points, or around 5%.
The Nifty 50 also ended higher, rising 149.75 points, or 0.63%, to close at 23,960.60.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, has recommended buying GMR Airports at ₹94.45, with a target price of ₹103 and a stop-loss of ₹89.50. He has also suggested buying Hindustan Aeronautics (HAL) at ₹5,077, with an upside target of ₹5,500 and a stop-loss of ₹4,830. Both stock recommendations carry a trading horizon of two to three weeks.
The market continued its excellent uptrend on Wednesday, and Nifty 50 closed the day higher by 149 points, marking the fifth consecutive session of an uptrend.