Mumbai

Stockmarkets rose for the second straight day on Wednesday, with the benchmark Sensex rallying 772 points to hit a near nine-month high and Nifty closing above 25,250, aided by foreign fund inflows, better-than-expected Q2 results and a sustained moderation in crude oil prices. The 30-share BSE Sensex rallied 772.75 points, or 0.95 per cent, to settle at 81,879.40, a level not seen since February 26. During the day, it jumped 1,413.75 points, or 1.74 per cent, to 82,520.40.

The 50-share NSE Nifty closed 210.40 points, or 0.84 per cent, higher at 25,255.05, the highest in nearly nine months.

Among the 30 Sensex firms, Mahindra & Mahindra jumped 5.25 per cent, InterGlobe Aviation 4.37 per cent, Trent 3.02 per cent, Tata Steel 2.22 per cent, ITC 2.15 per cent and Axis Bank 2.14 per cent. Adani Ports, Tech Mahindra, HCL Tech and ICICI Bank were among the laggards. Foreign Institutional Investors (FIIs) bought equities worth Rs 7,212.22 crore on Monday, according to exchange data. Brent crude, the global oil benchmark, was up 1.58 per cent to USD 92.94 per barrel.

The broader market uptrend remains underpinned by a favourable mix of sustained FII inflows, lower crude oil prices, a resilient rupee and encouraging corporate earnings, he said. Broader markets rallied as the BSE SmallCap Select index jumped 1.29 per cent and MidCap Select index was up 1.02 per cent. Among BSE sectoral indices, MidSmall Private Banks Quality Tilt surged 3.44 per cent, PSU PSU Bank 3.03 per cent, Telecommunication 2.41 per cent, Auto 2.05 per cent, Bankex 1.94 per cent, Private Banks index 1.43 per cent and Commodities 1.24 per cent.