India’s benchmark equity indices ended in the green on Wednesday after a volatile trading session, with gains in banking and financial services stocks helping the markets overcome weakness in metal, information technology and realty shares.
The Sensex rose 130.49 points, or 0.17 per cent, to settle at 77,185.43, while the Nifty advanced 26.45 points, or 0.11 per cent, to close at 24,074.85.
Commenting on Nifty technical outlook, experts said that strong buying interest around 24,000 helped the index recover from its intra-day lows, highlighting the importance of this level as a key support.
“Technically, this level will be essential to revive bullish momentum and pave the way for further upside,” as per the market experts.
“On the downside, the 24,000 psychological level remains the crucial support for maintaining the broader recovery structure,” the analyst stated.
The broader market outperformed the headline indices. The Nifty Midcap 150 index gained nearly 0.5 per cent, while the Nifty Smallcap 250 climbed around 0.75 per cent.
Among sectoral indices, public sector banks emerged as the top performers, with the Nifty PSU Bank index rising nearly 1 per cent amid renewed buying interest in the segment.
In contrast, the Nifty Metal index declined more than 1 per cent, making it the worst-performing sector of the day.
Information technology, realty and fast-moving consumer goods (FMCG) stocks remained under pressure, extending their recent losing streak.
The pharmaceutical sector, however, ended higher for the second straight session, while the oil and gas index rebounded after recording losses over the previous two trading sessions.
Experts said that the day’s trade reflected a cautious market mood, with investors selectively accumulating financial stocks while remaining wary of weakness in export-oriented and commodity-linked sectors.
“While elevated crude oil prices and geopolitical risks remain key monitorables, the market’s resilience reflects confidence in India’s macro fundamentals,” an analyst stated.
“Going ahead, investors will closely track global cues, corporate earnings, FII flows and commodity prices for further direction,” the market expert mentioned.
Meanwhile, Rupee traded largely flat near 96.25, as the Dollar Index slipped below $101 after softer-than-expected US CPI data, providing some relief to emerging market currencies.
“Technically, the rupee is expected to trade in the 95.75–96.45 range in the near term,” as per the market experts.
