Mumbai: Indian equity benchmarks ended Wednesday’s volatile session with solid gains, supported by optimism around the India–European Union Free Trade Agreement (FTA) and ongoing December-quarter earnings
announcements.
The Sensex closed at 82,345, rising 487 points or 0.60 percent, while the Nifty 50 ended at 25,343, up 167 points or 0.66 percent.
Volatile session, positive close
Markets saw sharp intraday swings as investors reacted to earnings updates and sector-specific moves. The Sensex traded between an intraday high of 82,504 and a low of 81,815, while the Nifty moved between 25,372 and 25,188 before recovering in the latter half of the session.
Analysts said near-term caution persists as the Nifty remains below key short-term moving averages. Immediate resistance is seen around 25,400–25,450, with a stronger supply zone near 25,600–25,650, aligned with the 20- and 50-day exponential moving averages.
Stocks driving the gains
Bharat Electronics Limited surged 9 percent, emerging as the top gainer on both the Sensex and Nifty.
Other stocks that supported the benchmarks included ONGC, Coal India, Hindalco, Bajaj Finance, Power Grid, Adani Enterprises, Trent, Mahindra & Mahindra, Cipla and Shriram Finance.
Losers and profit-booking
On the downside, Tata Consumer Products fell 4.5 percent. Other stocks ending lower included Asian Paints, Maruti Suzuki, Sun Pharma, Max Healthcare, Dr Reddy’s Laboratories, Infosys and Eicher Motors, with losses of up to 4.2 percent.
Broader markets outperform
Broader indices continued to outperform benchmark peers. The Nifty Midcap 100 rose 1.66 percent, while the Nifty Smallcap 100 gained a stronger 2.26 percent, reflecting improved risk appetite.
Sectoral trends
Public sector undertakings led the rally. The Nifty CPSE index jumped 5 percent, followed by the Nifty Oil & Gas index, which rose 3.4 percent. The Nifty Metal index advanced 2.3 percent, while the Nifty PSU Bank index climbed 1.7 percent.
Market participants said sentiment remained upbeat on expectations that the India–EU FTA could benefit export-oriented and cyclical sectors, even as FMCG stocks saw profit-booking.
