MUMBAI– Indian equity markets staged a strong recovery on Wednesday, closing higher despite early volatility and regional geopolitical tensions following Operation Sindoor, India’s military strike on terror camps in Pakistan and Pakistan-occupied Kashmir.
The BSE Sensex reversed early losses to end the session up 105 points, or 0.13%, at 80,746. Similarly, the NSE Nifty gained 0.14%, closing at 24,414 and reclaiming the key 24,400 level.
Sundar Kewat of Ashika Institutional Equity noted that open interest remains highest at the 24,500 and 24,400 strike prices on the call side, while 24,300 and 24,400 dominate on the put side. “The Put-Call Ratio (PCR) stands at 0.98, suggesting relatively balanced market sentiment,” he added.
Markets opened on a cautious note amid uncertainty surrounding India-Pakistan tensions. However, sentiment improved as the day progressed, buoyed by easing global trade concerns, the finalization of a free trade agreement (FTA) between India and the UK, and steady foreign institutional inflows.
Key sectors such as auto, real estate, and metals led the recovery, helping turn market sentiment positive by mid-session.
Tata Motors was the top performer on the Sensex, rallying 5.2%. Bajaj Finance followed with a gain of 2.02%, while Eicher Motors and Adani Ports each rose by 1.41%. Titan added 1.27% to the index’s upward momentum. Other notable gainers included Eternal (formerly Zomato), Mahindra & Mahindra, and Tata Steel.
On the downside, Asian Paints was the worst performer, falling 4%. Sun Pharma dropped 1.95%, while ITC, Nestle India, and Reliance Industries slipped 1.3%, 1.06%, and 1.01%, respectively.
Broader markets also posted strong rebounds, with the Nifty Midcap 100 and Nifty Smallcap indices each gaining around 1.5%, reversing sharp losses from the previous session.
Sectorally, most indices closed in positive territory. Leading the charge were auto, media, realty, and consumer durables—each up over 1%. However, FMCG, pharma, and healthcare sectors ended in the red.
Despite the upbeat close, market volatility remained high. The India VIX, often referred to as the fear index, climbed 3.58% to settle at 19, signaling lingering caution among investors. (Source: IANS)
