Sensex, Nifty range-bound; Bajaj, Tata Steel, SBI surge

New Delhi: The Indian stock markets’ key indices, Sensex and Nifty, were trading in a narrow band on Wednesday as the gains made due to the rally in the scrips like Bajaj twins, Tata Steel, SBI and ICICI Bank were offset by the losses in the scrips like NTPC, HUL, Infosys, Wipro and RIL.

The 30 stock S&P BSE Sensex was trading 60.54 points or 0.11 per cent higher at 52,754.11 points at 1.26 pm against its previous day’s close at 52,693.57 points. Earlier, the Sensex started the day in the negative at 52,650.41 points and fell to a low of 52,538.51 points. The Sensex touched a high of 52,867.73 points. It was trading in the narrow band slipping into negative multiple times in the day.

The Sensex had witnessed heavy selling pressure in the past three sessions. The Sensex had lost 153.13 points or 0.29 per cent on Tuesday. The Sensex had lost 1456.74 points or 2.68 per cent on Monday and 1016.84 points or 1.84 per cent in the previous session.

The broader Nifty 50 of the National Stock Exchange was trading 24.40 points or 0.16 per cent higher at 15,756.50 points against its previous day’s close at 15,732.10 points.

There was a strong buying support in Bajaj twins. Bajaj Finserv surged 4.19 per cent to Rs 11810. Bajaj Finance rose 1.94 per cent to Rs 5479.80.

Tata Steel surged 1.94 per cent to Rs 963.65. State Bank of India was trading 1.34 per cent higher at Rs 453.80. ICICI Bank rose 1.20 per cent to Rs 693.95.

Twelve of the 30 stocks that are part of the benchmark Sensex were trading in the red.

NTPC slumped 1.42 per cent to Rs 149.10. Hindustan Unilever fell 1.17 per cent to Rs 2146.80.

The index heavyweight Reliance Industries Limited was trading 0.18 per cent down at Rs 2622.50.

Infosys, Tech Mahindra, Wipro, Power Grid Corporation, Nestle India and HDFC were among the major Sensex losers.