It was a volatile session on D-Street yet again on Wednesday. The domestic key equity indices ended on a lower note after recouping from the early trading hours low. The NSE Nifty 50 closed the session 28 points or 0.12% at 22,917.15, while the BSE Sensex declined 95 points or 0.12% to end the day at 75,873.15.
The Nifty IT, Pharma, and Healthcare end the session in the red. The Nifty IT closed 1.30% lower while the Nifty Pharma and Healthcare ended 0.78% lower.
Bucking the trend, the banking stocks and the broader market closed the day higher. The Nifty Bank rose 448 points or 0.91% to close at 49,534.85. The Nifty Midcap 100 finished 755.10 points, or 1.52%, higher at 50,506.55.
Sectoral Index
In the broader markets, small- and mid-cap stocks closed the day on a positive note. The volatility index India VIX cooled down 1.56% to 15.42 level.
BEL (3.54%) was the top gainer in the Nifty 50, followed by Hindalco (2.70%), Eicher Motors (1.92%), Axis Bank (1.53%), and L&T (1.52%). Meanwhile, Dr Reddy’s Lab, TCS, Infosys, Hindustan Unilever, and Adani Enterprises were the major five losers in the Nifty 50.
The highlight of the session was the rebound in broader indices, which gained between 1.5% and 2.3%, said Ajit Mishra, Senior Vice President of Research at Religare Broking. “The ongoing indecisiveness in the index is keeping participants on edge, and this volatility may persist on Thursday. We maintain our view of adopting a stock-specific approach, focusing on resilient sectors and themes, particularly those holding strong even during market downturns, and accumulating them gradually.”