Equity market indicators wrapped up the day with gains on Wednesday, thanks to late-day purchases of major companies like Reliance Industries, ITC, and M&M. The positive momentum was supported by a favorable start in European markets.
Throughout most of the day, the market traded with caution, mainly due to two upcoming significant events: the Reserve Bank of India’s monetary policy decision and the release of US inflation data, both scheduled for Thursday. The 30-share BSE Sensex managed to rise by 149.31 points or 0.23%, settling at 65,995.81. However, it had its share of fluctuations, experiencing a drop of 402.12 points or 0.61% to reach 65,444.38 during the day, also touching a peak at 66,066.01.
The NSE Nifty also showcased a positive movement, adding 61.70 points or 0.32% to close at 19,632.55. Among the standout gainers on the Sensex were JSW Steel, leading the pack with a 2.68% rise, followed by Tata Motors, Mahindra & Mahindra, Tata Steel, Titan, ITC, Tech Mahindra, NTPC, Reliance Industries, and Larsen & Toubro.
On the flip side, Bajaj Finance, Maruti, ICICI Bank, Power Grid, Asian Paints, and Axis Bank faced significant declines.
Meanwhile, Asian markets displayed a mixed picture, with Tokyo and Shanghai experiencing drops while Seoul and Hong Kong managed to close in positive territory. Over in Europe, the markets were on a positive trajectory, whereas the US markets had ended in the red in the previous night’s trading.
Foreign Institutional Investors (FIIs) were observed selling equities worth Rs 711.34 crore on Tuesday, according to exchange data.
The global oil benchmark, Brent crude, saw a 0.79% rise to reach USD 86.85 per barrel.
The Indian rupee gained 5 paise against the US dollar, closing provisionally at 82.86 on Wednesday.
In the previous trading session on Tuesday, the BSE benchmark dropped by 106.98 points or 0.16%, reaching 65,846.50. Similarly, the Nifty slipped by 26.45 points or 0.13%, settling at 19,570.85.
