Indian equity benchmark indices Sensex and Nifty closed higher on Wednesday amid volatile trade, supported by optimism over the India–European Union Free Trade Agreement and ongoing corporate earnings announcements.
The BSE Sensex ended the session at 82,345, gaining 487 points or 0.60 per cent. The index moved in a wide range during the day, touching an intra-day high of 82,504 and a low of 81,815.
The NSE Nifty also settled in positive territory at 25,343, up 167 points or 0.66 per cent. During the session, the index hit a high of 25,372 and slipped to a low of 25,188 before recovering towards the close.
Market experts said investor sentiment remained cautiously optimistic despite near-term technical resistance.
“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,” an analyst said.
Among stocks, Bharat Electronics Limited surged nearly 9 per cent to emerge 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 downside, Tata Consumer Products declined 4.5 per cent. 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 outperformed the benchmark indices. The Nifty Midcap 100 index rose 1.66 per cent, while the Nifty Smallcap 100 gained 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 rose 3.4 per cent. The Nifty Metal index advanced 2.3 per cent and the Nifty PSU Bank index climbed 1.7 per cent.
“Domestic markets displayed continued optimism, supported by the India–EU FTA,” an expert said, adding that broader indices outperformed due to strength in metals, financials and oil and gas stocks, while FMCG stocks witnessed profit-booking.
Overall, markets ended the session on a positive note, driven by trade deal optimism and sectoral rotation towards cyclical stocks.
-IANS
