Sensex Recovers From Day's Lows, Ends 134 Pts Higher

The BSE Sensex recovered from its day's low and closed higher by 134 points at 52,904.05, while the Nifty-50 index closed up by 42 points at 15,853.95. Indices trimmed their early losses and soared high supported by robust Q1FY22 result expectations on the IT sector and favourable economic outcomes, said experts. 

The 30-share pack Sensex closed with 15 advances with technology shares being the top gainers on strong Q1 sentiment. Shares of Tech Mahindra, Infosys, and HCL Tech were the top index gainers, adding over two per cent each in the day's trade on Wednesday, July 14. 

Experts are bullish on the current trend and feel that if Nifty manages to break and settle above 15,900 on a closing basis, an upside upto 16,200 could be seen in the coming days. 

"If bulls manage a strong close above 15,900 in the next session then a sustainable rally can be witnessed with initial targets of 16,200," said an expert. 

The broader markets however traded in the green throughout the day with the BSE Smallcap index scaling a fresh record high in the morning deals. Shares of Kaya, Dolat Investment, and Gayatri Project surged between 15-20 per cent each in the Smallcap space. 

The overall market breadth supported bulls as 908 shares advanced in the day's trade, while 879 shares declined in the NSE.