Share markets in India continued the rally and headed for a firm close on positive GDP data for the December quarter and favorable Asian cues.

Equity benchmarks snapped two-day losing streak and gained strength on Wednesday after Q3 GDP data surprised economists, backed by banking & financials, FMCG, metals and pharma stocks. Global cues, too, were positive after investors digested US President Donald Trump’s address to Congress.

NSE Nifty closed at 8,945 levels, up by 6.2 points or 0.8%, while BSE Sensex closed at 28,984.49 levels, up by 241 points or 0.8%.

Asian equity markets finished broadly higher today with shares in Japan leading the region. The Nikkei 225 was up 1.44% while China’s Shanghai Composite ended up 0.16% and Hong Kong’s Hang Seng was up 0.15%. European markets are higher today with shares in Germany leading the region. The DAX is up 1.38% while France’s CAC 40 is up 1.25% and London’s FTSE 100 is up 0.87%.

Tata Steel was the top Nifty gainer and Idea was the top Nifty loser. Tata Steel closed at Rs 500 per share, up by 3.6%. Idea closed at Rs 112.7 per share, down by 2.7%.

Broader markets performed in-line with the major indices in the markets. BSE Mid-cap index closed at 13,569.6 levels, up by 17.3 points or 0.13%. BSE Small-cap index closed at 13,753 levels, up by 62 points or 0.45%.

Nifty Metal index, Nifty Mid-cap index and Nifty Small-cap index touched their record highs in Wednesday’s trading session.

Eicher Motors closed at Rs 23,670 per share, down by 2%. Escorts closed at Rs 456 per share, up by 1.6%. Ashok Leyland on Wednesday posted its auto sales data for the month of February. The automobile company closed at Rs 89 per share, down by 1.4% while, Mahindra and Mahindra closed at Rs 1,350 per share, up by 3.3%.

Amtek Auto closed at Rs 38.7 per share, up by 1.6%. The company will consider the issue of Rs 2.35 crore to two of its promoters namely Amtek Laboratories and Aisa International on a preferential basis. The share will be issued to the promoters at Rs 50 per share, inclusive of premium of Rs 48 per share.

Monnet Ispat soared on bourses on Wednesday even as the reports of acquisition of stakes by SAIL in the company emerged. The stock closed at Rs 35.9 per share, up by 6.6%.

The leader in the passenger car segment-Maruti Suzuki has also declared its February sales number. The total sales number, which includes the domestic plus exports has increased by 11% in February 2017, as compared to the numbers in February 2016. The stock closed at Rs 5,921 per share, down by Rs 1.85 per share or 0.03%.

D-Link subsidiary TeamF1 & Rel Jio is planning to launch fixed line digital services. Its stock surged over 14% and managed to close at Rs 141 per share, up by 14%.

Among small-cap stocks, Neuland Labratories closed at Rs 1,100 per share, up by Rs 183 per share or 20%.

Tata Teleservices (Maharashtra) closed at Rs 9 per share, up by Rs 1 per share or 19%.

Jaypee Infratech closed at Rs 13 per share, up by Rs 1 per share or 17%.

Sobha closed at Rs 336 per share, up by Rs 465 per share or 15%.

The broader markets underperformed benchmarks, with the Nifty Midcap rising over 0.3 percent as the gap between advances and declines narrowed. About 1630 shares gained against 1220 declining shares on the BSE.

The rupee was trading at 68.82 per US dollar.

Top 5 Nifty Gainers: Tata Steel (3.59%), Hindalco Industries Ltd. (3.15%), Kotak Bank (2.72%), M&M (2.59%) and Sun Pharma Ltd. (2.40%).

Top 5 Nifty Losers: IDEA (-2.72%), Eicher Motors Ltd. (-1.87%), NTPC (-1.75%), BPCL (-1.59%) and Tata Motors (-1.59%)

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