Sensex rises 214 points on fag-end buying; Nifty is close to 17,400; IT companies are dazzling

On Wednesday, fag-end purchasing increased benchmark indices for a sixth day in a succession despite sluggish global markets because by recent tensions between the US, China, and Taiwan as well as worries over slowing global economy. Selling pressure was present today across all industries, with the exception of IT and financial services, and was primarily driven by the automotive, pharmaceutical, and public sector banking sectors.

The benchmark S&P BSE Sensex closed at 58,351, up 214 points or 0.37 percent, after trading in a wide range between 57,789 and 58,416 during the day. On the other hand, the NSE Nifty50 finished at 17,388, up 43 points or 0.25 percent.

The BSE MidCap and SmallCap indices declined 0.6% and 0.3%, respectively, in the larger market.