The Indian stock market experienced a choppy session on Wednesday, with benchmark indices closing nearly unchanged despite significant intraday fluctuations.
The BSE Sensex settled at 75,939.18, down 28.21 points or 0.04%. The index touched an intraday high of 76,338.58 and a low of 75,581 before ending flat.
Similarly, the NSE Nifty 50 slipped 12.40 points or 0.05% to close at 22,932.90, moving within a range of 23,049.95 to 22,814.85 throughout the session.
Top Gainers and Losers
Half of the Nifty 50 constituents ended in the red. Dr. Reddy’s Laboratories, TCS, Infosys, and Hindustan Unilever were the top losers, shedding up to 2.48%.
On the other hand, Bharat Electronics, Hindalco, Eicher Motors, Larsen & Toubro, and Axis Bank saw gains of up to 3.54%.
Broader Market and Sectoral Performance
Smallcap stocks outperformed, with the Nifty Smallcap100 index surging 2.36%, led by JBM Auto and Aegis Logistics. The Nifty Midcap100 index also gained 1.56%.
Among sectoral indices, banking stocks saw strong traction, as the Nifty Private Bank and PSU Bank indices climbed over 1% each. The Bank Nifty index also closed 0.94% higher.
Other gaining sectors included consumer durables, financial services, metals, media, and realty, which advanced up to 1.59%.
In contrast, technology and healthcare stocks weighed on the market. The Nifty IT index was the worst performer, falling 1.26% due to losses in Persistent Systems and Mphasis. Auto, healthcare, pharma, and FMCG stocks also ended in the red.
Expert Take
“The Nifty has moved within a range, maintaining a volatile trend. The 22,800 level remains crucial support. As long as it holds, a sharp decline is unlikely,” said Rupak De of LKP Securities.
Currency and Commodities
The rupee traded lower at 86.81 against the US dollar, pressured by rising crude oil prices above $72.40 (WTI). Meanwhile, the dollar index remained stable near 107.
– IANS
