New Delhi, 23 September (H.S.): Indian equity markets closed higher on Wednesday, supported by sustained buying in metal and FMCG stocks and continued interest across the broader market. The benchmarks opened on a positive note and remained mildly volatile during the first hour before buying momentum strengthened, lifting both the Sensex and the Nifty.
Profit-taking emerged shortly after 2 pm, leading to some moderation in gains. However, both benchmarks remained firmly in positive territory throughout the session. At the close, the Sensex gained 0.40 per cent, while the Nifty advanced 0.51 per cent.
The BSE Sensex opened 119.24 points, or 0.16 per cent, higher at 74,648.32. After fluctuating between gains and losses in the initial phase, the index slipped nearly 50 points from its opening level to an intraday low of 74,599.88 amid selling pressure.
Buying subsequently picked up across sectors, pushing the Sensex higher. Around 2:30 pm, the index climbed 444.66 points, or 0.60 per cent, to an intraday high of 74,973.74. Profit-booking later pared some of the gains, with the index eventually closing 299.17 points, or 0.40 per cent, higher at 74,828.25.
The NSE Nifty also began the session on a firm note, rising 23.15 points, or 0.10 per cent, to 23,352.15. After some early volatility, sustained buying strengthened the index. Shortly after 2 pm, the Nifty touched an intraday high of 23,466.90, gaining 137.90 points, or 0.59 per cent.
The index subsequently eased from its day's high amid profit-booking but retained most of its gains to finish at 23,446.80, up 117.80 points, or 0.51 per cent.
Metal stocks remained among the key drivers of the session. The BSE Metal Index gained 2.37 per cent, while the BSE FMCG Index advanced 1.30 per cent. Realty, telecom, banking, automobiles, capital goods, consumer durables, healthcare, oil and gas, and public sector enterprise stocks also ended in positive territory.
In contrast, IT stocks witnessed selling pressure. The Nifty IT Index declined 0.87 per cent, while the BSE Tech Index fell 0.31 per cent. The Media Index also closed 0.76 per cent lower.
The broader market continued to attract buying interest, with the Nifty Midcap Index rising 0.70 per cent and the Smallcap Index gaining 0.89 per cent.
The rise in the equity benchmarks also increased investors’ wealth by around ₹1.79 lakh crore during the session. The combined market capitalisation of companies listed on the BSE rose to ₹483.54 lakh crore on a provisional basis, compared with ₹481.75 lakh crore at the end of Tuesday’s trading session.
Trading activity remained broad-based. A total of 4,597 stocks were actively traded on the BSE, with 2,809 closing higher, 1,579 declining and 209 remaining unchanged. On the NSE, 3,230 stocks saw active trading, of which 2,147 ended in positive territory and 1,083 closed lower.
Among the 30 Sensex constituents, 21 stocks gained and nine declined. Of the 50 Nifty constituents, 34 ended higher, 15 lower and one unchanged.
Bajaj Finance emerged as the biggest Sensex gainer, rising 3.41 per cent, followed by Hindalco Industries at 3.17 per cent, Tata Steel at 3.16 per cent, Apollo Hospitals at 2.64 per cent and JSW Steel at 2.43 per cent.
On the other hand, HCL Technologies fell 1.08 per cent, Titan Company declined 0.98 per cent, Infosys slipped 0.86 per cent, Coal India dropped 0.81 per cent and TCS eased 0.73 per cent.
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Hindusthan Samachar / Jun Sarkar
