Market closed on a happy note today

The Nifty resumed its uptrend on Wednesday as investors and traders bought into beaten down blue chips such as Tata Steel and into mid caps such as Bharat Forge on expectations of better earnings in the coming quarters.

The Nifty gained 51 points to end the day at 8,567. Its Advance-Decline Ratio stood at 34/15 with Infosys, Zee Entertainment, Bajaj Auto and Wipro were on top of the gainers' list, whereas Bank of Baroda,Coal India, Yes Bank and SBI brought up the rear of the Index. ICICI Bank was the most active counter on the Nifty, trading 1.25 crore shares.

Trading was equally robust in the middle market. Gains continued apace on the CNX Nifty Junior, CNX Small Cap Index and the CNX Midcap Index respectively.

However, the Bank Nifty fell a modest 44 points to 18,928 as traders booked profit after a sharp 5-day rally. The trend in other sectoral indices was strong. CNX Auto and CNX FMCG Indices too posted smart gains while modest dips were seen on CNX Finance and CNX PSU bank Indices.

On the Bombay Stock Exchange, the Sensex added 151 points to end the session at 28,223 points. Wipro, Lupin and Sun Pharma ended with smart gains whereas Hindalco, SBI and ICICI Bank slipped marginally in trade today. As a consequence, the Advance-Decline Ratio on the Sensex stood at 20/10.

Bulls continued to rule to roost on the broader markets with 1,770 stocks gaining ground versus 1,183 fell below Tuesday's closing prices.

The trend was positive in the derivatives space with Nifty Futures inching close to the 8,600-point mark. Realty, Media, Capital Goods and Infrastructure sectors were the major gainers among 18 industries in both price and open interest. The Advance-Decline Ratio was a strong 98/58 in the futures and Options market.

Earnings from Torrent Power, Marico, Emami and Canara Bank impressed traders whereas they were disappointed with numbers from Prism Cement and Shree Cements.

(Image credits: Indiatimes)