Seventh straight day of gains for Nifty

The key Indian stock indices ended higher for seventh straight trading session on Wednesday as strong economic growth continues to lure investors. The Indian markets advances even as other international markets struggled for direction, though Japanese stocks rallied after the government intervened the Forex market.



In addition, "moderating inflation could prompt the RBI to temporarily halt its monetary tightening as measures. The RBI is scheduled to review policy rates on Thursday," says Amar Ambani, Vice President, Research – India Private Clients, IIFL.

The Sensex advanced 155.15 points to close at 19,502.11. The index hit an intra-day high of 19,554 and an intra-day low of 19,341.

The NSE Nifty rose 65.40 points to close at 5,860.95 after touching a high of 5,869 and a low of 5,792.

Among the BSE sectoral indices, the BSE IT index was the top gainer the index was up 2.5%, followed by BSE Oil & Gas index (up 1.9%) and BSE Teck index (up 1.8%) and BSE Metal index (up 1%).

On the other hand the broader indices were quite soft, the BSE Mid-Cap index was flat and BSE Small-Cap index was also flat.

Markets in Asia ended in the green; the Nikkei in Japan gained 2.4%, Australia's S&P/ASX ended higher 0.7%, the Hang Seng index in Hong Kong added 0.2% and the Shanghai SE Composite edged lower by 1.2%.

The European indices were trading slightly in the red, the DAX in Germany was down 0.3%, the CAC 40 index in France was down 0.2%.

Outside the frontline indices, the big gainers in the broader market were OFSS, LIC Housing, Fintech, IDFC and Central Bank. On the other hand, losers included Petronet LNG, Godrej Ind, Tulip and Sintex.