Mumbai– The Indian stock market closed in positive territory on Wednesday, with benchmark indices Sensex and Nifty ending the session higher despite a day marked by volatility and mixed investor sentiment.
The Sensex touched an intra-day high of 82,021 before paring some gains to settle at 81,596.63, up 410.19 points or 0.51%. The Nifty followed suit, rising 129.55 points or 0.52% to close at 24,813.45.
“The market was caught in a tug-of-war between bulls and bears, resulting in a volatile and directionless trading day,” said Sundar Kewat of Ashika Institutional Equity. He added that sectors like consumer durables, private banks, and media stocks faced pressure, which tempered overall sentiment.
In the derivatives segment, the Nifty options data showed notable call open interest buildup at the 25,000 strike, while 24,700 and 24,000 strikes held the highest put open interest, indicating key support and resistance levels.
Among top-performing Sensex stocks, Bajaj Finserv, Tata Steel, Tech Mahindra, Sun Pharma, and Bajaj Finance gained up to 2.02%, leading the upward momentum. On the flip side, IndusInd Bank, Kotak Mahindra Bank, Power Grid Corporation, ITC, and Ultratech Cement were among the major laggards, with losses of up to 1.87%.
Broader market indices also ended on a positive note. The Nifty Midcap 100 rose 0.78%, while the Nifty Smallcap 100 gained 0.38%, reflecting strength beyond the blue-chip names.
Among sectoral indices, most ended in the green, with the exception of consumer durables. Real estate and pharmaceuticals led the gains — the Nifty Realty index jumped 1.72%, and the Pharma index climbed 1.25%.
Market volatility, as measured by the India VIX, edged up 0.93% to 17.55, suggesting heightened caution among investors.
“Markets showed a broadly positive undertone, but the overall sentiment remains range-bound,” said Vinod Nair, Head of Research at Geojit Financial Services. “There’s a rising risk of a ‘sell-on-rallies’ strategy in the near term amid uncertainty surrounding India-US trade negotiations.”
Despite global headwinds and domestic sectoral pressures, Wednesday’s session offered a mixed bag for investors, with key indices showing resilience while pockets of the market signaled caution ahead. (Source: IANS)
