Indian equities closed higher on Wednesday, with the Nifty 50 and BSE Sensex 30 posting modest gains as buying interest in metals, capital goods and banking names lifted the market into the close.
On the National Stock Exchange, the Nifty 50 finished the session up 0.37%. On the Bombay Stock Exchange, the Sensex 30 added 0.34% by the close.
Among Nifty constituents, HDFC Life Insurance Company Ltd (NSE:HDFL) was the top performer, advancing 3.36% - a 23.70-point gain - to finish at 729.50. Tata Steel Ltd (NSE:TISC) climbed 2.87% or 5.82 points to close at 208.90, while ITC Ltd (NSE:ITC) rose 2.20% or 7.15 points to end the day at 332.60.
On the downside, Oil And Natural Gas Corporation Ltd (NSE:ONGC) led laggards on the Nifty after slipping 2.59% or 7.05 points to 264.80 at the close. Wipro Ltd (NSE:WIPR) fell 1.64% or 3.54 points to 212.15 and Tech Mahindra Ltd (NSE:TEML) declined 1.56% or 23.80 points to settle at 1,500.00.
The BSE Sensex 30 showed a similar pattern of winners and losers. Tata Steel Ltd (BO:TISC) gained 2.83% to 208.85 while ITC Ltd (BO:ITC) rose 2.24% to finish at 332.60. Axis Bank Ltd. (BO:AXBK) also advanced, adding 1.51% to close at 1,377.60.
Stocks that weighed on the Sensex included Tech Mahindra Ltd (BO:TEML), which fell 1.58% to 1,500.00 in late trade, Eternal Ltd (BO:ETEA), down 1.56% to 277.20, and Infosys Ltd (BO:INFY), which slipped 1.37% to close at 1,372.20.
Market breadth on the NSE tilted positive, with rising issues outnumbering decliners 1,292 to 1,215 and 53 stocks unchanged. On the BSE, 2,098 shares advanced, 1,884 declined and 172 finished unchanged.
Several individual-stock milestones were recorded during the session. Shares of Tata Steel Ltd (NSE:TISC and BO:TISC) climbed to all-time highs, gaining 2.87% (NSE) to 208.90 and 2.83% (BO) to 208.85. Axis Bank Ltd. (BO:AXBK) also reached an all-time high, rising 1.51% or 20.55 points to 1,377.60. Conversely, Wipro Ltd (NSE:WIPR) moved to 52-week lows, falling 1.64% to 212.15.
Volatility across the Nifty options market eased, with the India VIX down 3.16% to 12.27 by the close.
Commodities traded mixed to higher. Gold futures for April delivery rose 0.73% or 35.71 to $4,941.61 a troy ounce. In energy markets, April WTI crude oil increased 0.45% or 0.28 to $62.54 a barrel, while the April Brent contract added 0.49% or 0.33 to trade at $67.75 a barrel.
Currency moves were modest. The USD/INR pair was up 0.04% at 90.66, while the EUR/INR slipped 0.07% to 107.37. The US Dollar Index Futures was quoted 0.10% higher at 97.15.
Market takeaway - The session closed with modest bullish sentiment led by metals, capital goods and banking sectors, while select large-cap technology and energy names underperformed. Volatility retreated and commodity prices rose, while currency changes were minor.