The benchmark equity indices ended Wednesday’s trading session in the positive territory. The NSE Nifty 50 gained 34.40 points or 0.15% to settle at 22,402.40, while the BSE Sensex jumped 114.48 points or 0.16% to 73,852.94. Bank Nifty index ended higher by 218.55 points or 0.46% to settle at 48,189.
The broader indices ended in mixed territory, with gain led by Mid-cap and Small-cap stocks. Metal and Realty stocks outperformed among the other sectoral indices while IT and Media stocks shed.
Hindalco Industries, Cipla, JSW Steel, Tata Steel, and Power Grid Corp were the top gainers on the NSE Nifty 50, while the laggards includes Tata Consumers Products, Grasim, Bajaj Auto, Tech Mahindra, and HDF Life Insurance.
The Indian Volatility Index (India VIX) closed up by 0.78 %.
“Indian markets lagged the Asian peers as Q4 earnings remained largely subdued with weak results from IT and a few index heavyweights results also disappointed. However, buoyed by strong manufacturing and service sectors,” said Vinod Nair, Head of Research at Geojit Financial Services
Nair also said that the Indian composite PMI hit a multi-year high, reflecting domestic resilience bringing some buoyancy in the broad market. Globally, investor sentiment improved with easing tensions in the Middle East and declining oil prices.