Sensex rose 695.76 points or 1.18% to 59,558.33 and the Nifty was up by 203.15 points or 1.16% to 17,780.00 in the previous session. Sensex touched high and low of 59,618.51 and 59,193.05, respectively. There were 21 stocks advancing against 9 stocks declining on the index while Nifty traded in a range of 17,794.60 and 17,674.80 and there were 40 stocks advancing against 9 stocks declining, while 1 stock remained unchanged on the index. 

Transformers And Rectifiers (India), Nahar Poly Films, OnMobile Global, Everest Industries, Safari Industries (India), Texmaco Rail & Engineering Limited, Astec LifeSciences, and CCL Products (India) have made fresh 52 weeks high on Wednesday.

Dubai Silicon Oasis (DSO) and India Innovation Hub have announced a partnership with EaseMyTrip and HSBC to facilitate 200 Indian startups to showcase their business ideas and innovations to global investors at Expo 2020 Dubai.

Mallcom (India) Limited, Mirae Asset Mutual Fund – Mirae Asset Nifty India Manufacturing ETF,  Hindusthan National Glass & Industries Limited have hit a 52-week low on Wednesday.

On Wednesday, most chemical stocks were trading in positive territory due to the reduced custom duty announced on acetic acid and methanol in Budget 2022. Balaji Amines, Alkyl Amines, Gujarat Alkalies, Deepak Nitrite, BASF India, Galaxy Surfactants, and Gujarat Fuluorochem were among the top gainers from the chemical’s basket, up around 2-6 per cent. On the other hand, Gujarat Narmada Valley Fertilisers (GNFC) and GNFC witnessed a price decline. 

IDEA, INVENTURE, PNB, GTLINFRA, YESBANK, SUZLON, JPPOWER, SAIL, BANKBARODA, and ITC were the most active equities on NSE.

Care Ratings (CARE) upgraded its rating on Vodafone Idea’s long term bank facilities and non-convertible debentures (NCD). The rating agency also assigned a ‘stable’ outlook.

Kotak Mahindra Mutual Fund – KOTAK IT ETF – Kotak IT ETF, Spandana Sphoorty Financial Limited, Capri Global Capital Limited, Transformers And Rectifiers (India) Limited, and Dredging Corporation of India Limited were the top volume gainers.

The Learned Arbitral Tribunal has by a majority of 2:1 passed an award dated January 31, 2022, in favour of MBL Infrastructures against the Public Works Department, Government of Uttarakhand for a road project in the state of Uttarakhand for a sum exceeding Rs 60 crore along with interest at the rate of 2 per cent higher than the current rate of interest prevalent on the date of the award.

3PLAND, 63MOONS, A2ZINFRA, AARON, and AARVEEDEN hit the upper price band while 21STCENMGM, ADROITINFO, ADSL, AJRINFRA, and ANSALHSG hit the lower price band. There were 182 securities that hit the upper band while 64 hit the lower band on February 2, 2022.