India's benchmark equity indices reversed a one-day decline to close higher on Wednesday.
The NSE Nifty 50 closed 34.80 points, or 0.14% higher at 24,414.4, while the BSE Sensex ended 105.71 points, or 0.13% up at 80,746.78. Intraday, the Nifty rose as much as 0.29% to 24,449.6, while the Sensex jumped 0.25% to 80,844.63.
The market witnessed significant volatility during the day; a subdued start, followed by a swift recovery, according to Aditya Gaggar, director of Progressive Shares Brokers Pvt. "Technically, Nifty 50 maintained its key support at 24,250, while 24,500 remains a critical resistance; while a breakout on either sides is likely to determine the next directional move."
Also Read: Rupee Declines Against The US Dollar At Open
Shares of HDFC Bank Ltd., Tata Motors Ltd., Bajaj Finance Ltd., Mahindra & Mahindra Ltd., and ICICI Bank Ltd. led the gains in the Nifty.
While those of Reliance Industries Ltd., Sun Pharmaceuticals Ltd., ITC Ltd., Asian Paints Ltd. and HCL Technologies Ltd. dragged the index.
On the NSE, 11 out of 15 sectoral indices ended higher, with the Nifty Auto, Realty and Media rising the most. Nifty Defence was the biggest loser of the day.
The BSE MidCap and SmallCap ended 1.36% and 1.16% higher, respectively.
All 21 sectors advanced, with the BSE Midcap Select Index gaining the most, followed by BSE Midcap 150 Index.
Market breadth was skewed in favour of buyers. As much as 2,133 stocks advanced and 1,655 stocks declined, while 155 were unchanged on the BSE.
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