Indian equity benchmarks Sensex and Nifty ended a volatile trading session in positive territory on Wednesday, driven by buying in select heavyweights. The BSE Sensex rose 150 points to close at 62,345, while the NSE Nifty gained 45 points to settle at 18,456.
Market Performance
The session witnessed sharp fluctuations as investors weighed global cues and domestic economic data. However, late-session buying helped indices recover from intraday lows. Among sectoral indices, IT, pharma, and FMCG stocks witnessed gains, while metal and realty shares faced selling pressure.
Top Gainers and Losers
Trent emerged as the top gainer among Nifty stocks, surging 3% after the company reported strong quarterly earnings. Other major gainers included HDFC Bank, ICICI Bank, and Infosys. On the losing side, Coal India, Hindalco, and Tata Steel declined over 1% each.
Broader Market Indices
The broader market also ended on a mixed note. The BSE Midcap index rose 0.2%, while the Smallcap index slipped 0.1%. Market breadth was negative, with 1,450 stocks advancing and 1,800 declining on the BSE.
Global Cues and Outlook
Global markets remained subdued amid concerns over interest rate hikes by major central banks. However, positive domestic macroeconomic data, including stable inflation and robust GST collections, provided support to the market. Analysts expect the market to remain range-bound in the near term, with focus on corporate earnings and global developments.
