MUMBAI– Indian equity markets closed higher on Wednesday, extending their recent momentum as investors bought into banking and auto heavyweights while awaiting the U.S. Federal Reserve’s interest rate decision.
The Sensex added 313 points, or 0.38 percent, to finish at 82,693.71 after opening at 82,506.40 and touching an intraday high of 82,741.95. The Nifty 50 climbed 91.15 points, or 0.36 percent, to close at 25,330.25.
“Markets edged higher in a subdued session on Wednesday, reflecting a positive yet cautious undertone. After a firm start, the Nifty index traded in a narrow range throughout the day before settling at the 25,330.25 level,” said Ajit Mishra of Religare Broking.
Sector performance was mixed. IT, banking, and auto stocks led the gains, while metals, FMCG, and pharmaceuticals saw profit-taking. Notable winners from the Sensex basket included SBI, BEL, Kotak Mahindra Bank, Maruti Suzuki, Tech Mahindra, TCS, Infosys, Tata Motors, Asian Paints, Sun Pharma, and L&T. Bajaj Finserv, Titan, ITC, Tata Steel, and Hindustan Unilever ended lower.
Among sectoral indices, Nifty Bank rose 345 points (0.63 percent), Nifty Auto gained 148 points (0.55 percent), and Nifty IT climbed 235 points (0.65 percent). Nifty FMCG slipped, reflecting selective profit-booking.
Broader markets also advanced on value buying, with the Nifty Small Cap 100 up 124 points (0.68 percent), Nifty 100 higher by 86.90 points (0.34 percent), and Nifty Midcap 100 gaining 49 points.
Despite cautious undertones due to persistent foreign institutional investor (FII) selling and the Fed’s upcoming policy outcome, analysts said optimism around domestic reforms and steady local inflows kept sentiment supportive. (Source: IANS)
