Sensex Jumps 267 Points, FMCG Sector Leads Rally | Markets News

In Wednesday’s session, Midcap and smallcap stocks saw mixed trends. Nifty midcap was up 99 points or 0.19 per cent at 52,167 points and the Nifty smallcap was down 59 points or 0.35 per cent at 16,880 points.21 out of the 30 Sensex stocks closed in red. (Also Read: India Exports Over 45,000 Tonnes Of Onions After Ban Lifted)

HUL, RIL, Infosys, Asian paints and ITC were major gainers. SBI, JSW Steel, Axis Bank, ICICI Bank, Tata Steel and Tata Motors were major losers. Among the sector indices, the Nifty FMCG Index was the top gainer. Pharma, IT, Realty, Media, and Energy were other major gainers.

Auto, PSU Bank, Metal, and Pvt Bank were major losers. Rupak De, Senior Technical Analyst, LKP Securities said: “Nifty continues to trend bullishly, finding support at 22500. The index has been moving higher within a rising channel. (Also Read: Buddha Purnima Holiday: Banks To Remain Closed In THESE Cities & States On May 23)

The trend is likely to remain strong as long as it stays above 22500.””On the higher end, the index might move towards 22800 in the short term, with immediate support at 22600. A dip below 22600 might briefly take the index towards 22500,” he added.