Share market closing: Sensex, Nifty recover after early loss; check top gainers and losers

Despite a negative opening in the morning session, markets closed green on Wednesday, reclaiming at a per cent high from previous close on the Christmas eve. The benchmark index BSE sensex closed at 35,649.94, surging 180 points or 0.5 per cent later in the trading hours. Meanwhile, NSE nifty 50 climbed 66 points or 0.6 per cent to close at 10,729.85. Major support by most sectors in the later session and a sharp recovery in bigger players helped the Nifty clock the levels of 10,700 again. 

The positive returns came even after market experts were predicting a negative closing on Wednesday out of, U.S political uncertainties, weak global sentiments and low economic figures from China and European markets. The Indian market jumped upside. 

Major contribution by auto companies, infrastructural companies and private banks helped indices gain as all sectors except IT and pharma closed in the green. Despite starting red in the morning, large players like HDFC, HDFC bank, Reliance and L & T dragged markets towards green. "The major contribution is by the NBFC's and banking shares, the levels of 11000 will be watchful for Nifty," Kunal Saraogi, CEO, Equity Rush told Zee Business Online.

Rupee too climbed against the US dollar and was trading below 70 mark, during session, 0.5 per cent up from the last close.

TOP GAINERS

Adani Ports: Adani Ports gained 4.28 per cent, closed at Rs 376.55

ZEEL: Zee entertainment gained over 4 per cent, settling at Rs 455

Bharti Airtel: It gained 3.67 per cent stronger to Rs 320.45

TOP LOOSERS

Sun Pharma: Sun pharma closed at Rs 413.65, shred over 2.5 per cent.

Yes Bank: Yes bank closed at Rs 176.45, losing over 1.5 per cent.

TCS: The IT giant TCS closed in red at Rs 1889.20, down by 1.53 per cent. 

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Saraogi said that the crucial range for the Nifty50 would be from 10,650 to 10,800 while for bank Nifty it range between the levels of 26,500-27,200. "The coming few days could be positive due to NBFCs and banks, Thursday's session can expect a smooth rally," he added.

He said that since the F&O expiry is on Thursday, it also led to today's markets gain. 

The coming weeks are expected to be positive for the markets due to major decisions of recapitalisation by the government, FPIs infusion of 4000 crore, RBIs liquidity nod, GST rate cuts, appreciation of rupee can drag the market towards 11,000 levels.