MUMBAI, India — Indian equity benchmarks Sensex and Nifty ended Wednesday’s session with modest gains, remaining in positive territory despite sharp intraday volatility, as investor sentiment was supported by December-quarter earnings and the finalization of the India–European Union free trade agreement.
The Sensex closed at 82,345, up 487 points, or 0.60 percent. During the session, the index swung between a high of 82,504 and a low of 81,815 as markets fluctuated between gains and losses.
The Nifty also finished higher, ending at 25,343, a gain of 167 points, or 0.66 percent. The index touched an intraday high of 25,372 and fell 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.
Shares of Bharat Electronics Limited surged 9 percent, emerging as the top gainer on both the Sensex and the Nifty. Other stocks supporting the market included ONGC, Coal India, Hindalco, Bajaj Finance, Power Grid, Adani Enterprises, Trent, Mahindra & Mahindra, Cipla, and Shriram Finance.
On the downside, Tata Consumer Products fell 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 index rose 1.66 percent, while the Nifty Smallcap 100 gained 2.26 percent.
Sector-wise, 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 close on a positive note.
“Domestic markets displayed continued optimism, supported by the India–EU free trade agreement,” an analyst said.
“Broader indices outperformed, driven by strength in metals, financials, and oil and gas stocks, while FMCG shares saw profit-taking as investors shifted toward cyclical sectors,” another analyst added. (Source: IANS)
