Mumbai: Indian stock markets ended marginally higher on Wednesday after a highly volatile trading session. The markets opened strong but later gave up most of their early gains due to profit-booking.
The 30-share BSE Sensex closed 50.15 points or 0.06 per cent higher at 82,276.07. During the day, it had surged 731.99 points or 0.89 per cent to touch 82,957.91. However, most of these gains were trimmed by the closing bell.
The NSE Nifty also ended in positive territory. The 50-share index rose 57.85 points or 0.23 per cent to settle at 25,482.50.
Gains And Losers
From the Sensex pack, HCL Tech, Tata Steel, Tata Consultancy Services, InterGlobe Aviation, Sun Pharma, Mahindra & Mahindra, Maruti Suzuki and Tech Mahindra were among the top gainers.
On the other hand, Reliance Industries, State Bank of India, Adani Ports and Eternal were among the major laggards.
Why Markets Turned Volatile?
Experts said markets started the day on a strong note because of positive global cues. US markets had ended higher on Tuesday, and Asian markets were also trading firmly. South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng all ended significantly higher. European markets were also trading in the green.
However, profit-booking at higher levels reduced gains. Analysts said investors avoided aggressive buying due to a lack of strong domestic triggers and mixed global signals.
Vinod Nair of Geojit Investments said markets were supported by a rebound in US tech stocks and dovish signals from the Bank of Japan. But fresh tariff-related comments from the US President and weakness in the Indian rupee limited gains.
Institutional Activity And Oil Prices
Foreign Institutional Investors (FIIs) sold shares worth Rs 102.53 crore on Tuesday. Domestic Institutional Investors (DIIs), however, bought equities worth Rs 3,161.22 crore.
Brent crude oil prices slipped 0.14 per cent to USD 70.67 per barrel.
On Tuesday, the Sensex had fallen 1,068.74 points, while the Nifty dropped 288.35 points.
