Benchmark stock market indices ended marginally higher on Wednesday after four sessions of sharp losses, helped by gains in metal, oil & gas and consumer stocks, even as the rupee hit a fresh all-time low amid rising concerns over the prolonged US-Iran conflict and elevated crude oil prices.
The S&P BSE gained 49.74 points, or 0.07%, to close at 74,608.98, while the NSE Nifty50 rose 33.05 points, or 0.14%, to settle at 23,412.60.
The rupee weakened to a record low of 95.7950 against the US dollar, extending its losing streak as importer demand and overseas debt repayments continued to pressure the currency. Concerns over the impact of the US-Iran war and disruption in the Strait of Hormuz also weighed on sentiment.
Broader markets ended higher, with the Nifty Midcap 100 index rising 0.77% and the Nifty Smallcap 100 gaining 0.31%. India VIX, the volatility index, climbed 0.75%.
Among sectoral indices, Nifty Metal rose 3.18%, Nifty Consumer Durables gained 1.67%, and Nifty Oil & Gas advanced 1.28%. Nifty FMCG added 0.30%, while Nifty Pharma and Nifty Healthcare Index rose 0.23% and 0.29%, respectively. However, Nifty IT slipped 1.13%, while Nifty Auto declined 0.97%. Nifty Realty, Nifty Private Bank and Nifty PSU Bank also ended in the red.
On the Sensex pack, Asian Paints surged 4.48%, Tata Steel gained 3.63%, Bharat Electronics climbed 2.93%, and Adani Ports and Special Economic Zone rose 2.79%. Bharti Airtel and Larsen and Toubro also ended higher.
On the losing side, Mahindra and Mahindra fell 2.07%, Power Grid Corporation of India dropped 1.52%, Infosys declined 1.51%, Tata Consultancy Services slipped 1.21%, and Sun Pharmaceutical Industries fell 1.16%.
Vinod Nair, Head of Research, Geojit Investments Limited, said domestic benchmark indices closed flat with a cautious undertone, while broader markets outperformed on dip buying and short covering in mid- and small-cap stocks.
He said the sharp increase in import tariffs on precious metals was sentimentally positive for the rupee, while metal stocks outperformed due to a supply squeeze.
Nair added that inflation rose slightly in India but remained below expectations, offering some near-term comfort. However, he warned that prolonged Middle East tensions and elevated commodity prices could limit the RBI’s policy flexibility if inflation pressures continue.
He also said sticky US inflation continues to support the higher-for-longer interest rate narrative, strengthening the US dollar and weighing on risk assets globally. At the same time, AI-driven themes are attracting strong global inflows due to better earnings visibility and long-term growth potential.
Meanwhile, Brent crude hovered near $107 per barrel, while WTI crude traded above $101 per barrel, keeping concerns around inflation and India’s import bill elevated.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Benchmark stock market indices ended marginally higher on Wednesday after four sessions of sharp losses, helped by gains in metal, oil & gas and consumer stocks, even as the rupee hit a fresh all-time low amid rising concerns over the prolonged US-Iran conflict and elevated crude oil prices.
The S&P BSE gained 49.74 points, or 0.07%, to close at 74,608.98, while the NSE Nifty50 rose 33.05 points, or 0.14%, to settle at 23,412.60.
The rupee weakened to a record low of 95.7950 against the US dollar, extending its losing streak as importer demand and overseas debt repayments continued to pressure the currency. Concerns over the impact of the US-Iran war and disruption in the Strait of Hormuz also weighed on sentiment.
Broader markets ended higher, with the Nifty Midcap 100 index rising 0.77% and the Nifty Smallcap 100 gaining 0.31%. India VIX, the volatility index, climbed 0.75%.
Among sectoral indices, Nifty Metal rose 3.18%, Nifty Consumer Durables gained 1.67%, and Nifty Oil & Gas advanced 1.28%. Nifty FMCG added 0.30%, while Nifty Pharma and Nifty Healthcare Index rose 0.23% and 0.29%, respectively. However, Nifty IT slipped 1.13%, while Nifty Auto declined 0.97%. Nifty Realty, Nifty Private Bank and Nifty PSU Bank also ended in the red.
On the Sensex pack, Asian Paints surged 4.48%, Tata Steel gained 3.63%, Bharat Electronics climbed 2.93%, and Adani Ports and Special Economic Zone rose 2.79%. Bharti Airtel and Larsen and Toubro also ended higher.
On the losing side, Mahindra and Mahindra fell 2.07%, Power Grid Corporation of India dropped 1.52%, Infosys declined 1.51%, Tata Consultancy Services slipped 1.21%, and Sun Pharmaceutical Industries fell 1.16%.
Vinod Nair, Head of Research, Geojit Investments Limited, said domestic benchmark indices closed flat with a cautious undertone, while broader markets outperformed on dip buying and short covering in mid- and small-cap stocks.
He said the sharp increase in import tariffs on precious metals was sentimentally positive for the rupee, while metal stocks outperformed due to a supply squeeze.
Nair added that inflation rose slightly in India but remained below expectations, offering some near-term comfort. However, he warned that prolonged Middle East tensions and elevated commodity prices could limit the RBI’s policy flexibility if inflation pressures continue.
He also said sticky US inflation continues to support the higher-for-longer interest rate narrative, strengthening the US dollar and weighing on risk assets globally. At the same time, AI-driven themes are attracting strong global inflows due to better earnings visibility and long-term growth potential.
Meanwhile, Brent crude hovered near $107 per barrel, while WTI crude traded above $101 per barrel, keeping concerns around inflation and India’s import bill elevated.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)