MUMBAI– Indian equities closed higher for a second straight session on Wednesday, lifted by strong buying in heavyweight banking and auto stocks, even as investors stayed cautious ahead of the U.S. Federal Reserve’s upcoming rate decision.
The Sensex ended at 82,693.71, up 313 points, or 0.38 percent. The 30-share index opened with a gap-up at 82,506.40 compared to Tuesday’s close of 82,380.69, and briefly touched an intraday high of 82,741.95 before settling modestly higher. The Nifty 50 closed at 25,330.25, gaining 91.15 points, or 0.36 percent.
“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 level,” said Ajit Mishra, senior vice president of Religare Broking.
Sectoral performance was mixed. Banking, auto, and IT stocks were among the top gainers, while metals, FMCG, and pharma saw profit-taking. The Nifty Bank advanced 345 points, or 0.63 percent, while Nifty Auto added 148 points, or 0.55 percent. Nifty IT rose 235 points, or 0.65 percent, but Nifty FMCG ended lower.
On the Sensex, State Bank of India (SBI), Bharat Electronics Ltd. (BEL), Kotak Bank, Maruti Suzuki, Tech Mahindra, TCS, Tata Motors, Infosys, Asian Paints, Sun Pharma, and L&T all posted gains. Bajaj Finserv, Titan, ITC, Tata Steel, and Hindustan Unilever closed lower.
Broader indices also advanced, buoyed by value buying in small-cap stocks. The Nifty Small Cap 100 gained 124 points, or 0.68 percent, while the Nifty Midcap 100 rose 49 points.
Market sentiment has been supported by optimism around policy reforms and steady domestic inflows, though analysts noted persistent foreign institutional investor (FII) selling and uncertainty ahead of the Fed’s policy statement are likely to keep gains in check. (Source: IANS)
