Similarly, the SENSEX opened over 250 points lower, but recouped all the losses to trade flat at 83,640 on Wednesday morning.
The broader market traded mixed with NIFTY Midcap 100 index trading 0.3% lower, while NIFTY Smallcap 100 index trading 0.3% higher on Wednesday morning.
At the opening, the gainers in the NIFTY50 included Coal India (+2.4%), NTPC (+0.9%), Tata Steel (0.89%), Hindalco (+0.83%), ONGC (+0.75%), while Eicher Motors (-1.0%), Wipro (-1.0%), TCS (-0.9%), Asian Paint (-0.83%) and Kotak Bank (-0.4%) were the top five losers on Wednesday morning.
Among the sectoral indices, NIFTY Metal (+1.1%), Mid & Small Healthcare (+0.3%), Small Financial Services (+0.3%) and PSU Bank (+0.3%) were the top gaining indices, while NIFTY IT (-0.3%), Realty (-0.33%), FMCG (-0.03%) were among the top losers on Wednesday morning.
Among stock-specific developments, shares of NLC India rallied over 3% on Wednesday after company announced signing a Memorandum of Understanding (MoU) with the Government of Gujarat for the development of large-scale Renewable Energy (RE) projects in the State of Gujarat, including Solar, Wind, Hybrid and Battery Energy Storage Projects, with an aggregate investment potential of around ₹25,000 crore.
Shares of Bank of Maharashtra rallied almost 4% after the public sector bank announced its Q3FY26 results on Tuesday. The bank reported 27% YoY jump in the net profit at ₹1779 crore. The bank further improved its asset quality as GNPA fell to 1.6% from 1.8% in the same period last year.
Apart from the above, shares of Infosys Ltd, ICICI Prudential Asset Management Company Ltd, Union Bank of India Ltd, HDFC Asset Management Company Ltd, Billionbrains Garage Ventures Ltd, and Indian Overseas Bank Ltd will remain in focus owing to their Q3 earnings release on Wednesday.
Amid the growing concerns over geopolitical stability in the Middle East, Venezuela and Greenland, investors across the globe continued to pile the safe-haven assets like gold and silver. Consequently, the gold price on MCX futures traded at record high levels of ₹1,43,000 per ounce, up 0.5%. While silver prices soared 4.4% on MCX future contracts on Wednesday morning at ₹2,87,200