S&P BSE Sensex ended 157 points or 0.27% higher at 58,807 while the NSE Nifty 50 index closed 47 points or 0.27% higher at 17,516.
Goldman Sachs analysts said they see significant expansion in the total addressable market for solar, battery and hydrogen manufacturing globally as well as in India and expect RIL to capitalise on the same with its new-energy venture.
Amid tepid market momentum, 199 scrips on the BSE traded at 52-week high values while 10 stocks were down at 52-week lows.
Based on H1FY2022 numbers, the IPO is priced at a Price to Book value of 2.28 times at the upper price band of the IPO, which is in line with the listed peer group.
Sensex and Nifty were up from their lows and seen trimming losses, but still in the red.
The market has closed on a strong note yesterday and hence, we may see further extension of this as well; but we still do not have the conviction of it moving beyond the higher boundary of 17700 in this leg.
The MPC regarded the uncertainty around the new Covid variant and the headwinds from faster normalization of monetary policy in advanced economies as the key risks to the domestic outlook.
After showing sharp upside bounce from the lows on Tuesday, the strong upside momentum continued in the market on Wednesday and the Nifty closed the day with hefty gains of 293 points.
“Nifty has reached a good hurdle zone of 17500, if it manages to sustain above-said levels or if it gives any decisive close above the same then we may see more upside in the coming session towards 18k mark,” said Rohit Singre, Senior Technical Analyst at LKP Securities.
S&P BSE Sensex zoomed 1,016 points or 1.76% to close at 58,649 on Wednesday, while the NSE Nifty 50 added 1.71% to settle at 17,469.
“The banking space could continue to lead the momentum as the Bank Nifty index has seen good interest from its 200 DMA support.
The data will influence the Fed’s decision to taper its stimulus at a faster pace and set the stage for an eventual interest rate hike in 2022,” said Prashant Tapse, Vice President , Mehta Equities.
The initial public offer of Rategain Travel Technologies Ltd received 75 per cent subscription on the second day of the offering on Wednesday, with the retail investors’ portion getting subscribed 3.98 times.