The Indian stock market ended higher after a volatile session on Wednesday, with the Sensex rising 123.42 points, or 0.15 per cent, to close at 82,515.14. The Nifty also advanced 37.15 points, or 0.15 per cent, to settle at 25,141.40.
Despite the gains in benchmark indices, selling pressure was observed in the broader market. The Nifty Midcap 100 index declined by 293.25 points, or 0.49 per cent, to 59,388.15, while the Nifty Smallcap 100 index fell 101.05 points, or 0.53 per cent, to 18,798.75.
Sectorally, IT, auto, pharma, realty, and energy stocks were the top gainers, whereas PSU banks, financial services, FMCG, metal, and media stocks closed in the red.
Among the top gainers in the Sensex pack were HCL Tech, Infosys, Tech Mahindra, Bajaj Finserv, Tata Motors, Eternal (Zomato), ICICI Bank, UltraTech Cement, and Titan. On the losing side, Power Grid, IndusInd Bank, Nestle, HUL, and HDFC Bank were the major laggards.
The Nifty index remained volatile through the day, reflecting investor caution ahead of key economic data releases.
“Crucial support is placed at 24,850. As long as the index holds above this level, the trend is likely to remain positive, with potential to move towards 25,350 in the short term,” said Rupak De, Senior Technical Analyst at LKP Securities.
According to market analysts, profit-booking continued in the broader markets due to elevated domestic valuations. However, resilience in large-cap stocks supported the benchmark indices, with institutional investors preferring companies with stable earnings outlooks.
“The auto and IT sectors remain in focus — auto stocks are gaining on improved monthly sales, while IT is benefiting from optimism around a potential US-China trade resolution,” said Vinod Nair, Head of Research at Geojit Financial Services.
Following the recent rally, analysts noted that the market currently lacks a clear direction as investors await key macroeconomic indicators and updates on global trade developments.
“US inflation data is expected to show a slight uptick, driven by recent tariff increases,” Nair added.
Meanwhile, the Indian rupee traded stronger by 0.10, closing at 85.44 against the US dollar, supported by sustained buying activity from foreign and domestic institutional investors. The dollar index remained flat. Analysts expect the rupee to trade within the range of 85.25 to 85.85 in the near term.
-IANS
