Indian stock markets ended slightly higher on Wednesday, where the BSE Sensex rose 50 points to close at 74,609, while the NSE Nifty gained 33 points to settle above the 23,400 mark. Markets witnessed sharp swings during the session as investors tracked rising crude oil prices, rupee weakness and global geopolitical tensions.
Metal and commodity stocks led the recovery on Dalal Street. Asian Paints emerged among the top gainers with a rise of over 4%, while Tata Steel and Adani Enterprises also posted strong gains. Stocks such as Adani Ports, Bharti Airtel and Bharat Electronics attracted buying interest during the session.
On the other hand, IT and auto stocks remained under pressure. Infosys, Tech Mahindra and Mahindra & Mahindra were among the major losers, limiting the broader market rally. TCS and Sun Pharma also ended lower.
Sector-wise, metal stocks outperformed the market, with the Nifty Metal index seeing strong gains. Consumer durable, oil & gas and infrastructure shares also ended in positive territory. However, weakness in banking and technology stocks capped overall gains.
Meanwhile, the Indian rupee touched another record low against the US dollar during the day, weighed down by rising oil prices and foreign fund outflows.
Analysts said markets remained cautious despite the recovery, mainly because of uncertainty around global crude oil prices and continued foreign investor selling. Concerns linked to tensions in West Asia and their possible impact on inflation and fuel costs also kept investors on edge.
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