Noida, Aug 5 (APAC Media): Indian benchmark indices BSE Sensex and NSE Nifty ended marginally higher on Wednesday, with the BSE rising 152.05 points, or 0.19%, to close at 78,581.00, while the Nifty50 gained 9.75 points, or 0.04%, to settle at 24,624.65.
The market opened on a firm note, supported by selective buying across key sectors.
However, the rally lost momentum during the latter half of the session as investors locked in gains following recent advances, dragging the benchmark indices lower from their intraday peaks.
RBI MPC Decision: Repo Rate Unchanged at 5.25%; FY27 GDP Growth Forecast at 6.7%
The Nifty50 declined 113.15 points, or 0.46%, to 24,501.75, with market breadth remaining weak as 35 index constituents traded lower and 15 advanced. Grasim Industries was the top gainer, rising 2.53%, while HCL Technologies led the losers, falling 2.19%.
Market participants also remained watchful of geopolitical developments in the Middle East, with concerns over potential disruptions to global crude oil supplies contributing to a risk-off mood in financial markets.
The rupee appreciated 15 paise to close provisionally at 95.13 against the US dollar on Wednesday, supported by improved market sentiment following the Reserve Bank of India’s monetary policy announcement.
Analysts said the Nifty faced resistance around the 24,600–24,700 zone, prompting traders to adopt a cautious approach. The absence of sustained buying at higher levels resulted in consolidation and a broad-based decline from the day’s highs.
Despite the intraday pullback, market experts believe domestic equities continue to be supported by strong macroeconomic fundamentals.
However, they expect volatility to persist in the near term as investors track global cues, crude oil prices, foreign fund flows and upcoming economic data.
Investors will also monitor corporate earnings and global market trends for further direction, with analysts expecting stock-specific action to dominate trading in the coming sessions.
–ENDS–
Disclaimer: This article is for informational purposes only. APAC Media is not liable for any investment decisions or losses. Please conduct your own research or consult a financial advisor before investing.
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