MUMBAI — Indian equity benchmarks ended marginally higher Wednesday after a volatile trading session, helped by gains in metal, oil and gas stocks, while weakness in information technology, banking and auto shares limited the advance.
The 30-share Sensex rose 49.74 points, or 0.07%, to close at 74,608.98. The index swung sharply during the session, falling as low as 74,134.48 and rising as high as 75,191.57.
The Nifty ended at 23,412.60, up 33.05 points, or 0.14%. During the session, the index traded between 23,262.55 and 23,582.95.
An analyst said 23,300 remains the immediate support level for the Nifty, followed by 23,100, where significant open interest concentration is placed.
“On the upside, 23,500 now acts as the immediate resistance after the market failed to sustain above it during the session,” the analyst said.
Asian Paints, Adani Enterprises and Tata Steel were among the top gainers in the Nifty pack, helping support the benchmarks in a choppy market.
Broader markets also ended higher. The Nifty MidCap index rose 0.77%, while the Nifty SmallCap index gained 0.31%.
Among sectors, Nifty Metal, Nifty Oil and Gas and Nifty Consumer Durables were the top performers. Nifty IT, Nifty Auto, Nifty Bank and Nifty Media posted the steepest declines.
Investors remained cautious ahead of a scheduled meeting later in the day between U.S. President Donald Trump and Chinese President Xi Jinping, where trade issues were expected to be discussed.
Markets also tracked geopolitical developments in West Asia after Washington adopted a tougher stance on Iran following Trump’s remarks on a fragile ceasefire.
“Markets will now closely monitor the US–China summit for further clarity on trade and geopolitical developments,” an expert said. (Source: IANS)
