Indian equity benchmarks, Sensex and Nifty, ended marginally higher on Wednesday as selective buying in auto, metal and midcap stocks offset weakness in banking heavyweights. The BSE Sensex gained 52 points to settle at 78,581, while the NSE Nifty 50 advanced 10 points to close at 24,625, remaining above the crucial 24,600 mark. Market participants also continued to adjust to the newly introduced Closing Auction Session (CAS) framework for F&O stocks, which influenced end-of-day price movements.
Key Highlights
- Sensex rose 52 points while Nifty settled above 24,600, driven by strength in auto and metal stocks.
- Banking stocks remained under pressure, while the rupee strengthened 26 paise against the US dollar.
Auto, Metal Stocks Lead Gains While Banks Weigh on Market
The Nifty Auto index climbed nearly 1%, supported by strong buying across automobile manufacturers and ancillary companies. Metal stocks also outperformed as a weaker US dollar boosted sentiment toward commodity-linked shares. JSW Steel and Hindalco gained around 2% each, while Hindustan Zinc surged 6% on the back of rising silver prices. Vedanta also ended higher.
In contrast, banking stocks capped the market's gains. Selling pressure in HDFC Bank and ICICI Bank dragged the Nifty Bank index down by 167 points to close at 57,740. However, non-banking financial companies such as Shriram Finance and Cholamandalam Investment attracted buying interest.
Also Read: Indian Financial Markets: Key Morning Updates Today
Midcaps Outperform as Rupee Strengthens
Broader markets remained resilient, with advancing stocks outnumbering decliners and midcap counters continuing to outperform benchmark indices. Stocks including Jubilant FoodWorks, Bosch, Mphasis, and 360 One Wealth were among the notable gainers. Realty and housing finance stocks also remained in focus, with Godrej Properties and PNB Housing Finance rising about 4% each after encouraging management commentary.
On the downside, Kalyan Jewellers declined 4% following margin pressure in its quarterly results, while MCX and BSE Ltd slipped 2–3% after their earnings announcements. Nykaa and Marico also ended lower despite posting healthy quarterly results.
Meanwhile, the Indian rupee appreciated 26 paise to close at 95.12 against the US dollar, compared with 95.38 in the previous session.
Asian stock market largely ended in positive territory, led by South Korea's Kospi and Japan's Nikkei 225, while Singapore's FTSE was the only major regional index to close lower.
