On Wednesday, the BSE Sensex closed marginally lower, while the Nifty 50 held steady above 25,900, reflecting a session of consolidation after recent gains.
After opening with positive momentum, supported by modest gains in global markets, profit-booking in select stocks tempered the rally. Volatility remained moderate, with investors selectively buying into defensive sectors while booking profits in high-flying stocks.
Among individual stocks, SBI, Reliance Industries (RIL), and ICICI Bank emerged as top gainers, rising 2–3% during the session. These gains partially offset losses in other sectors and helped the indices hold key levels.
On the other hand, IT stocks came under pressure, with TCS, Infosys, and Wipro recording declines of 2–3%, reflecting profit-taking and rotation into banking and PSU stocks. Other laggards included HDFC Bank and HCL Tech, which also slipped amid sectoral weakness.
Market breadth was mixed, with auto and pharma stocks attracting selective buying, while mid-cap and IT names saw selling pressure. Foreign institutional investors were cautious, with some selective buying in large-cap stocks noted. The Indian rupee remained stable against the U.S. dollar, and commodity markets saw moderate inflows into safe-haven assets like gold.
Global cues were mixed, with Asian markets posting modest gains, while U.S. and European futures indicated slight upside. Analysts noted that the market is consolidating near technical support levels, and investors are awaiting fresh triggers for a sustained breakout.