Indian equity benchmarks closed in positive territory for the third straight session on Wednesday, lifted by gains in IT and FMCG stocks amid steady domestic inflows.
The BSE Sensex advanced 213.45 points, or 0.26 per cent, to settle at 81,857.84, while the NSE Nifty rose 69.90 points, or 0.28 per cent, to end at 25,050.55. The 30-share index had opened at 81,671.47, marginally higher than Tuesday’s close of 81,644.39, and remained rangebound through the session.
Market sentiment improved after China, India’s largest trading partner, left its key interest rate unchanged, a move analysts said signalled policy stability with potential implications for trade.
Among Sensex constituents, Infosys, TCS, Hindustan Unilever, NTPC, Tech Mahindra, Tata Steel, HCL Tech, Bharti Airtel, Mahindra & Mahindra, Titan and Eternal were among the top gainers. On the other hand, BEL, Bajaj Finance, Tata Motors, Trent, Bajaj Finserv and ITC ended in the red.
“The market sustained its positive momentum, supported by strong domestic inflows and favourable macro tailwinds. However, rich valuations and external risks, particularly U.S. tariffs and sanctions on Russian crude, continue to pose challenges,” said Vinod Nair, Head of Research, Geojit Financial Services.
Sectoral performance was mixed. Nifty FMCG gained 1.39 per cent, Nifty IT jumped 2.69 per cent, while Nifty Auto ended marginally higher. Bank Nifty and Nifty Financial Services closed in negative territory. Broader indices continued to strengthen, with Nifty Next 50 up 0.38 per cent, Nifty 100 rising 0.30 per cent, Nifty Midcap 100 climbing 0.46 per cent, and Nifty Smallcap 100 advancing 0.46 per cent.
Meanwhile, the rupee traded flat at 87.02 against the U.S. dollar as the dollar index held steady at 98.25. Traders remained cautious ahead of U.S. Federal Reserve Chair Jerome Powell’s speech later this week.
“Recent tariff developments have kept volatility elevated, though sentiment stabilised after Prime Minister Modi’s Independence Day announcement on GST reduction ahead of Diwali,” said Jateen Trivedi, VP Research Analyst at LKP Securities. He added that the rupee is likely to remain rangebound, with resistance near 86.80 and support in the 87.60–87.80 zone.
-IANS