MUMBAI, Maharashtra — Indian equity benchmarks Sensex and Nifty ended Wednesday’s session modestly higher, staying in positive territory despite sharp intraday swings, as investor sentiment drew support from December-quarter earnings and optimism surrounding the India–European Union Free Trade Agreement.
The Sensex closed at 82,345, up 487 points, or 0.60 percent. The index moved between an intraday high of 82,504 and a low of 81,815 as markets oscillated between gains and losses through the session.
The Nifty also finished higher, ending at 25,343, a gain of 167 points, or 0.66 percent. During the day, the index touched a high of 25,372 and slipped to a low of 25,188 before recovering toward the close.
“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, followed by a stronger supply zone at 25,600–25,650, aligned with the 20/50-EMA cluster,” an analyst said.
Bharat Electronics Limited surged 9 percent to emerge as the top gainer on both the Sensex and the Nifty. Other stocks that supported the benchmarks included ONGC, Coal India, Hindalco, Bajaj Finance, Power Grid, Adani Enterprises, Trent, Mahindra & Mahindra, Cipla and Shriram Finance.
On the downside, Tata Consumer Products dropped 4.5 percent. 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 percent.
Broader markets outperformed the benchmark indices. The Nifty Midcap 100 rose 1.66 percent, while the Nifty Smallcap 100 gained 2.26 percent.
Sectorally, public sector undertakings led the rally. The Nifty CPSE index jumped 5 percent, while the Nifty Oil and Gas index advanced 3.4 percent. The Nifty Metal index rose 2.3 percent and the Nifty PSU Bank index climbed 1.7 percent, helping markets end the session on a positive note.
“Domestic markets displayed continued optimism, supported by the India–EU FTA,” an expert said.
“Broader indices outperformed, driven by strength in Metals, Financials, and Oil & Gas, while FMCG stocks saw profit-booking amid investor shift toward cyclical sectors,” another analyst said. (Source: IANS)
