MUMBAI, India — Indian equity benchmarks closed higher on Wednesday, supported by gains in banking, metal, and FMCG stocks, even as continued selling pressure in information technology shares weighed on overall sentiment.
The Sensex ended the session up 283 points, or 0.34 percent, at 83,734, while the Nifty rose 93 points, or 0.37 percent, to close at 25,819.
Broader markets tracked the benchmarks, with the Nifty Midcap 100 advancing 0.50 percent and the NSE Smallcap 100 rising 0.54 percent. The Nifty Next50 outperformed, gaining 0.67 percent.
All sectoral indices finished in positive territory except for Nifty IT, which declined 1.23 percent. FMCG, metal, and PSU bank stocks led the gains, rising 1.21 percent, 1.33 percent, and 1.31 percent, respectively.
Market breadth on the BSE was positive, with 2,110 stocks advancing against 1,916 declines, while 166 shares ended unchanged. A total of 94 stocks hit fresh 52-week highs, while 82 touched new 52-week lows.
Analysts said steady domestic institutional investor inflows continued to provide structural support to the market, helping cushion volatility amid mixed global cues. Overall sentiment remained cautiously constructive, supported by optimism around domestic growth and improving earnings visibility.
The rupee traded slightly weaker, slipping by 2 paise to 90.66 against the dollar.
During the session, the Sensex fell to a low of 83,206 around mid-morning before staging a recovery of more than 585 points to an intraday high of 83,749. The Nifty also erased early losses, gaining 183 points in the afternoon to reach 25,828, extending its winning streak to a third consecutive session.
Market participants said the performance of broader indices suggested sectoral rotation rather than broad-based risk-taking, with investors favoring defensive and value-oriented stocks over growth-heavy segments.
Bank Nifty posted a strong bullish session, opening higher and maintaining a pattern of higher highs and higher lows throughout the day. Analysts said the 61,400 level remains a key support zone for potential near-term continuation. (Source: IANS)
