Market Closing: Nifty above 17,150; Sensex gains 620 pts

On Wednesday, Indian equity indices closed the day in the green, with gains across the board. The leading indices were pushed higher by buying demand in financial, IT, oil & gas, and automobile stocks, despite losses in pharmaceutical and healthcare stocks.

The BSE Sensex closed at 57,684.79, up 619.92 points, or 1.09 percent, and the NSE Nifty was at 17,166.90, up 183.70 points, or 1.08 percent. Around 1859 shares have increased in value, 1323 shares have decreased in value, and 130 shares have remained steady.

Among the major Nifty gainers were IndusInd Bank, JSW Steel, Tata Motors, Adani Ports, and Axis Bank. Cipla, Divis Labs, Dr Reddy's Labs, UltraTech Cement, and Sun Pharma were among the losers. Except for Pharma, all other sectoral indices finished in the black, with metal indices gaining more than 2 percent. The BSE midcap index rose by 1 percent, while the smallcap index gained by 0.27 percent.

On December 1, the first day of bidding, Tega Industries, the second-largest maker of polymer-based mill liners, received bids for 3.11 crore equity shares against issue size of 95.68 lakhs, resulting in a subscription rate of 3.25 times.

Meanwhile, the rupee strengthened against the dollar, closing at 74.91 against the dollar, up from 75.16 at the previous close.

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