Finance
The benchmark equity indices ended Wednesday’s trading session in positive territory. The BSE Sensex increased 614.57 points, or 0.81%, to close the day at 76,452.93, while the NSE Nifty 50 gained 135.85 points, or 0.59%, to settle at 23,160.50.
The broader indices also ended Wednesday’s trading session lower, underperforming the global markets. The Nifty Midcap 100 ended the day 1.36% lower at 53,100.60.
The Nifty Realty lagged other sectoral indices once more, closing more than 4.5% lower. The NIfty IT index, on the other hand, outperformed other indices and ended the day more than 2% higher.
The Bank Nifty index closes at 48,724.40, up 153.50 points, or 0.32%. Small-cap equities experienced the largest losses in the overall markets. The India VIX volatility index decreased 1.65% to 16.77 level.
Wipro (3.9%), Infosys (3.02%), TCS (2.88%), Tech Mahindra (2.36%), and HDFC Bank (1.8%) were the top gainers in the Nifty 50. Meanwhile, BEL, Tata Motors, Trent, Power Grid Corp, and Axis Bank were the major losers in the Nifty 50.
“On the daily charts, we can observe that the Nifty witnessed recovery from the psychological support level of 23000. The recovery was led by HDFC Bank, which recovered sharply from intraday lows,” said Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan. Going ahead, the expectations of the recovery process are likely to continue towards 23,400, he added.
“The news that the US is considering lower tariffs on China may provide temporary relief, but underlying concerns persist. A moderation in the dollar index could potentially halt rupee depreciation,” said Vinod Nair, Head of Research at Geojit Financial Services.
Source: FE
