Indian equity benchmark indices Sensex and Nifty ended Wednesday’s session with modest gains.
Share
MUMBAI — Indian equity benchmark indices Sensex and Nifty ended Wednesday’s session with modest gains, managing to stay in the green despite sharp volatility through the day.
Investor sentiment was influenced by December-quarter earnings announcements and the finalisation of the India–European Union Free Trade Agreement.
The Sensex closed at 82,345, rising 487 points, or 0.60 per cent. During the session, the index moved between a high of 82,504 and a low of 81,815 as markets swung between gains and losses.
Also read: 'Trump's trade war speeded up historic India-EU free trade pact'
The Nifty also posted a positive close, ending the day at 25,343, up 167 points, or 0.66 per cent.
The index touched an intra-day high of 25,372 and slipped to a low of 25,188 before recovering towards the close.
“While the index continues to trade below its short-term moving averages -- indicating near-term caution -- immediate resistance is seen at 25,400–25,450, followed by a stronger supply zone at 25,600–25,650, aligned with the 20/50-EMA cluster,” an analyst mentioned.
Shares of Bharat Electronics Limited surged 9 per cent, emerging as the top gainer on both the Sensex and Nifty.
Other stocks that supported the market included ONGC, Coal India, Hindalco, Bajaj Finance, Power Grid, Adani Enterprises, Trent, Mahindra & Mahindra, Cipla and Shriram Finance.
On the losing side, Tata Consumer Products fell 4.5 per cent. Stocks such as Asian Paints, Maruti Suzuki, Sun Pharma, Max Healthcare, Dr Reddy’s Laboratories, Infosys and Eicher Motors also ended lower, with losses of up to 4.2 per cent.
Broader markets continued to outperform the benchmark indices. The Nifty Midcap 100 index rose 1.66 per cent, while the Nifty Smallcap 100 gained a stronger 2.26 per cent.
Sectorally, public sector undertakings led the rally. The Nifty CPSE index jumped 5 per cent, while the Nifty Oil and Gas index gained 3.4 per cent.
The Nifty Metal index advanced 2.3 per cent and the Nifty PSU Bank index climbed 1.7 per cent, helping the market end the session on a positive note.
"Domestic markets displayed continued optimism, supported by the India–EU FTA,” an expert stated.
“Broader indices outperformed, driven by strength in Metals, Financials, and Oil & Gas, while FMCG stocks saw profit-booking amid investor shift toward cyclical sectors,” an analyst stated.