Benchmark indices Sensex and Nifty ended the volatile trading session in the green amid buying towards the end, even as mid and smallcap segments underperformed the main indices after the US Fed kept interest rates unchanged but hinted at a hike as early as September.
The 30-share BSE Sensex closed 273.55 points or 0.35 per cent higher at 77,928.15. During the day, the benchmark hit a high of 78,007.09 and a low of 77,440.91, gyrating 566.18 points. The 50-share NSE Nifty was up by 66.95 points or 0.28 per cent and ended the session at 24,317.15. The broader market ended the session in the red. While the BSE MidCap Select Index fell 67.50 points or 0.36 per cent, the BSE SmallCap Select Index dropped 57.82 points or 0.66 per cent.
Among sectoral indices, Nifty Auto gained over 1.63 per cent, followed by Nifty IT and Nifty Metal.
“The Fed’s decision to maintain the status quo on rates was largely anticipated, but hawkishness remained due to continued emphasis on inflation control. A sharp uptick in US bond yields signalled growing pressure for a possible rate hike in the near future, keeping global investors on edge, while renewed crude oil volatility amid West Asian tensions added to external uncertainty. As a result, domestic equities stayed range-bound with sharp intraday swings, as investors weighed global headwinds against resilient domestic fundamentals. Nonetheless, strengthening FII inflows, a firmer rupee, and encouraging Q1FY27 supported sentiment, prompting investors to treat dips as selective buying opportunities,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Top gainers and losers
Among the 30-Sensex firms, Mahindra & Mahindra, Maruti, Reliance, Power Grid and Tech Mahindra were the major gainers, with M&M gaining 2.01 per cent today. On the flip side, Adani Ports, Indigo, Bajaj Finserv, BEL and ICICI Bank were among the laggards. The shares of Adani Ports fell 3.46 per cent today.
Today, shares of 15 out of 30 Sensex companies closed in the green, while the remaining 15 closed in the red. On the other hand, shares of 25 out of 50 Nifty 50 companies also closed in the green, with gains, while the remaining 25 closed in the red.