Market Wrap, Sept 23: Sensex, Nifty50 gain as metal stocks rally, crude oil prices ease

Indian equity markets ended Wednesday on a firm note, with both benchmark indices closing at a two-week high. The BSE Sensex rose 299 points to settle at 74,828, while the NSE Nifty50 climbed 118 points to end at 23,447. Buying interest was broad-based, but metal stocks clearly led the charge as crude oil prices cooled below the $100 mark. Key closing numbers The Sensex gained 299.17 points, or 0.40%, to close at 74,828.25. During the day it had touched an intraday high of nearly 74,974. The Nifty50 advanced 117.80 points, or 0.50%, to finish at 23,446.80. Midcap and smallcap indices also participated, rising around 0.7% and 0.9% respectively, showing that the advance was not limited to large-caps. Market breadth remained positive, with advances outnumbering declines roughly 2:1. India VIX eased further, signalling lower near-term volatility. Metal stocks drive the rally The Nifty Metal index surged over 2.4%, emerging as the strongest sectoral performer. Tata Steel, JSW Steel an...
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