Sensex Closes 64 Points Higher At 73,983, Nifty Dips 27 Points As Metals & PSU Banks Trigger Profit Booking

Mumbai: Indian benchmark indices ended with mixed results on Wednesday as investors booked profits in several sectors during the second half of trading.

The BSE Sensex managed to close in positive territory, rising 64.42 points or 0.09 per cent to settle at 73,983.18.

However, the NSE Nifty 50 slipped 27.15 points or 0.12 per cent to close at 23,214.95.

The markets had witnessed gains earlier in the session, but selling pressure later erased a large part of the day's advance.

Metal, PSU Banks And Realty Stocks Drag

Market sentiment turned weak as investors sold shares in metal, PSU banking and real estate companies.

These sectors emerged as the biggest losers and pulled the benchmark indices away from their intraday highs.

Among Nifty stocks, Hindalco Industries, Coal India and ONGC were the top laggards during the session.

Analysts said investors preferred booking profits in cyclical sectors after recent gains.

Defensive Stocks Provide Support

Despite weakness in several sectors, buying in defensive and private banking stocks helped limit market losses.

On the Sensex, Hindustan Unilever (HUL), Axis Bank and Kotak Mahindra Bank were among the top gainers.

The Nifty FMCG index gained more than 1 per cent as investors shifted towards consumer-focused stocks considered relatively safer during uncertain market conditions.

Private banking shares also attracted buying interest and supported the benchmark indices.

Broader Markets Under Pressure

The broader market witnessed sharper selling compared to frontline indices.

The Nifty MidCap index ended 1.49 per cent lower, while the Nifty SmallCap index declined 1.33 per cent.

Among sectoral indices, Nifty Media, Nifty PSU Bank and Nifty Realty were the worst performers of the day.

Meanwhile, Nifty FMCG, Nifty Private Bank and Nifty Chemical indices outperformed the broader market.

Key Levels To Watch

According to market experts, the 23,250-23,300 zone remains an important resistance area for Nifty, followed by 23,450.

On the downside, 23,100 is the immediate support level.

A break below this level could push the index towards 23,000 and later the 22,850-22,900 zone.

Analysts said the mixed closing reflects cautious investor sentiment, with traders rotating from rate-sensitive and cyclical sectors into defensive and private banking stocks.