The Indian stock market experienced significant movement on Wednesday, as benchmark indices Sensex and Nifty recovered in the latter half of the day after concerns over potential US trade tariffs eased.
At the close of trading, the BSE Sensex rose by 566 points, or 0.75%, to close at 76,404.99. The Nifty 50 gained 130.7 points, or 0.57%, ending at 23,155. During the day, the Sensex reached an intra-day low of 75,817, and the Nifty fell to 22,981 before recovering.
According to market experts, Nifty took support near its previous session low of 22,980 and formed a hammer tweezer bottom candlestick on the daily chart, signalling potential recovery toward 23,350 levels after Tuesday’s decline.
The sustained bullish momentum will only emerge if Nifty closes above 23,500, where the 21-day EMA is positioned. Until then, a cautious approach is advised, experts added.
Stocks such as Infosys, TCS, Tech Mahindra, Maruti Suzuki, Sun Pharma, HCLTech, and Nestle India were among the top gainers on the Sensex, rising by up to 2.7%. Conversely, Tata Motors, Zomato, NTPC, SBI, Tata Steel, and Power Grid were among the major decliners, with losses of up to 3%.
On the Nifty 50, 26 stocks finished in the green, while 24 closed in the red, with one remaining unchanged.
The broader market underperformed compared to the benchmark indices. The Nifty SmallCap index fell by 2.7%, while the Nifty MidCap index dropped 2.3%.
Sector-wise, there was notable weakness in some areas. The Nifty Realty index declined by 5%, the Nifty PSU Bank index fell by 2%, and the Nifty Metal index decreased by 1.8%.
On Monday, foreign institutional investors (FIIs) sold equities worth Rs 5,920 crore, while domestic institutional investors (DIIs) purchased equities worth Rs 3,500 crore.
–IANS
