Indian benchmark indices, Sensex and Nifty, ended higher Wednesday led by gains in banks, IT and realty stocks. Investor sentiment was boosted amid hopes of economic recovery on opening up of businesses improved global risk appetite, analysts said.

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The Sensex ended 290.36 points or 0.86 percent higher at 34,247.05 while the Nifty rallied 69.50 points or 0.69 percent to settle at 10,116.15. Gains were supported by broader markets as well with the Nifty Midcap and Nifty smallcap indices rising 1.22 percent and 0.51 percent, respectively.

Buying in index heavyweights such as Reliance Industries and financials such as IndusInd Bank, HDFC, Axis Bank, among others helped Nifty end above 10,100 levels.

Among sectors, Nifty PSU Bank rallied the most 3.5 percent followed by Nifty Realty, Nifty Financial Services and Nifty IT index. However, Nifty Auto, Nifty Metal and Nifty Media ended in the red.

IndusInd Bank, Hindalco, Axis Bank, Shree Cement and Kotak Mahindra Bank led the gains among Nifty50 constituents while Hero MotoCorp, GAIL India, Coal India, Bajaj Auto and Titan Company remained the top index losers.

IndusInd Bank gained for the fourth straight day and closed at nearly 3-month high.

Shares of JM Financial ended 3.67 percent higher at Rs 73.50 after the company launched a qualified institutional placement (QIP) with an indicative issue size of $101.8 million, or up to Rs 770 crore. The QIP has been launched at a floor price of Rs 66.72 per share. The stock touched an intra-day high of Rs 74.80 per share after gaining 5.5 percent.

Titan Company ended 1.90 percent lower at Rs 977.55 after global brokerage CLSA reiterated 'sell' rating on the stock by raising the target price to Rs 855 from Rs 810. The brokerage pointed out that the company's share gains and responses to the challenges are encouraging but the rise in the gold prices, subdued wedding demand, and franchisee's financial health remain a concern.

First Published:Jun 10, 2020 3:34 PM IST