Closing Bell: Tug of war between bulls and bears! Sensex, Nifty end marginally higher after volatile trade

Stock Market Closing Bell: Benchmark equity indices witnessed a highly volatile trading session on Wednesday, with the Sensex and Nifty swinging sharply between gains and losses before settling marginally higher amid selective buying at lower levels and caution over global cues.

The 30-share BSE Sensex rose 49.74 points or 0.07 per cent to close at 74,608.98. During the day, the benchmark gyrated 1,057.09 points after hitting a low of 74,134.48 and a high of 75,191.57.

The NSE Nifty advanced 33.05 points or 0.14 per cent to settle at 23,412.60. The broader index moved in a range of 320.40 points during the session, touching a low of 23,262.55 and a high of 23,582.95.

Market experts said the sharp intra-day recovery came after several sessions of decline as oversold conditions and strong domestic institutional investor (DII) buying supported sentiment.

Why is Stock Market Volatile Today?

Market analyst Anil Singhvi said the benchmark indices approached a key technical support zone after continuous selling pressure in recent sessions, leading to buying at lower levels.

“The market had become oversold after four to five sessions of decline. In oversold markets, some recovery normally comes,” he said. According to Singhvi, domestic institutional investors played a major role in the rebound through strong buying despite large block deals.

He also said lower-than-expected foreign institutional investor (FII) selling in the previous session offered some relief to the market. Investors are also closely tracking developments surrounding US President Donald Trump’s ongoing China visit amid hopes of positive business and trade-related announcements, he added.

On the technical front, Singhvi said the Nifty support zone remains in the 23,150-23,250 range, while immediate resistance is seen between 23,465 and 23,550. “Below support levels, weakness can increase again. But if the market sustains above 23,550, risk will reduce significantly,” he added.

Top Gainers and Losers

Among the gainers, Asian Paints jumped 4.37 per cent, followed by Tata Steel, which climbed 3.68 per cent. Adani Ports advanced 3.02 per cent, while Bharat Electronics rose 2.93 per cent and Bharti Airtel gained 1.78 per cent. Larsen & Toubro, ITC, IndiGo, Trent and UltraTech Cement were also among the major gainers.

On the other hand, Infosys emerged as the top laggard, falling 1.50 per cent. Mahindra & Mahindra declined 1.49 per cent, while Sun Pharma, Tech Mahindra and TCS slipped over 1 per cent each. Power Grid, Bajaj Finserv, Eternal and NTPC were also among the losers.

Nifty Broad Market Indices

Broader markets also ended in positive territory on Tuesday, with the Nifty Next 50 index rising 0.85 per cent and the Nifty Midcap 100 gaining 0.77 per cent. The Nifty Midcap Select advanced 0.73 per cent, while the Nifty Microcap 250 climbed 0.69 per cent.

Among other indices, the Nifty Midcap 150 rose 0.63 per cent, the Nifty MidSmallcap 400 gained 0.52 per cent, and the Nifty 200 advanced 0.37 per cent. The Nifty Smallcap indices also ended higher.

Nifty Sectoral Indices

Among sectoral indices, Nifty Metal emerged as the top gainer, surging 3.18 per cent, followed by Nifty Consumer Durables, which climbed 1.67 per cent and Nifty Oil and Gas, which advanced 1.28 per cent. Nifty Cement also gained 0.86 per cent, while FMCG, Healthcare and Pharma indices ended in positive territory.

On the other hand, Nifty IT was the worst performer, declining 1.13 per cent. Nifty Auto fell 0.97 per cent, while Bank, Financial Services, Realty and Private Bank indices also closed lower amid selling pressure in select heavyweight stocks.