Indian equity markets witnessed a volatile trading session on Wednesday, with the BSE Sensex and NSE Nifty50 managing to close with marginal gains. Investors largely remained cautious, awaiting the release of US inflation data that could shape the Federal Reserve’s monetary policy trajectory.
The BSE Sensex edged up by 16.09 points (0.02%) to settle at 81,526.14, while the NSE Nifty snapped a three-day losing streak, rising 31.75 points (0.13%) to close at 24,641.80.
Market Highlights
Top Gainers on Sensex
- Bajaj Finance
- Nestle India
- Bajaj Finserv
- Asian Paints
- UltraTech Cement
- Infosys
- Maruti
- Bharti Airtel
- Hindustan Unilever
Top Losers on Sensex
- JSW Steel
- Adani Ports
- NTPC
- State Bank of India
- Reliance Industries
- Tech Mahindra
- Axis Bank
- Titan
- HDFC Bank
Market Sentiment
“The Indian market exhibited subtle movements, reflecting mixed sentiments prevailing in global markets ahead of the US CPI inflation data release, which could influence the Fed policy,” said Vinod Nair, Head of Research at Geojit Financial Services.
Global markets added to the uncertainty.
- Asian indices displayed mixed results, with Tokyo, Shanghai, and Seoul trading higher, while Hong Kong faced declines.
- European markets exhibited varied performance.
- US markets ended lower on Tuesday, reflecting caution.
Key Developments
- Foreign Institutional Investors (FIIs) showed confidence, purchasing shares worth ₹1,285.96 crore on Tuesday, according to exchange data.
- Brent crude oil prices, a global benchmark, rose by 0.98% to reach $72.90 per barrel, indicating an uptick in energy markets.
Yesterday’s Performance
In the previous session:
- The BSE Sensex gained a mere 1.59 points to close at 81,510.05.
- The NSE Nifty fell for the third consecutive session, shedding 8.95 points to end at 24,610.05.
What Lies Ahead
Market participants are now eyeing the US CPI inflation data, as it holds the potential to sway Federal Reserve decisions on interest rates. The impact of global cues, coupled with domestic factors such as FII activity and sector-specific developments, will continue to shape market movements in the days ahead.
