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Indian benchmark indices closed with modest gains on Wednesday after a volatile session, as early momentum faded due to mid-session profit booking. While banking stocks remained under pressure, sectors like IT, media, metals, and realty provided support at lower levels.

The Sensex ended the day 182.34 points, or 0.22 per cent, higher at 81,330.56, while the Nifty rose 88.55 points, or 0.36 per cent, to close at 24,666.90.

Markets opened on a strong note, buoyed by positive global cues, and the Nifty briefly crossed the 24,750 mark in early trade. However, profit booking during the mid-session dragged the index below 24,550 before a late recovery helped it close in the green.

Sectoral and Broader Market Performance

Except for the banking index, all other sectoral indices on the NSE ended in the green. Realty, oil & gas, telecom, media, IT, and metals rose between 1 per cent and 2.5 per cent.

The BSE Midcap index gained 1 per cent, and the Smallcap index rose 1.6 per cent, outperforming the benchmarks.

Top Gainers And Losers

On the Nifty, major gainers included Tata Steel, Shriram Finance, Bharat Electronics, Hindalco Industries, and Eternal. Among the top losers were Asian Paints, Cipla, Tata Motors, Kotak Mahindra Bank, and NTPC.

Global Cues Support Early Gains

Overnight gains on Wall Street, triggered by softer-than-expected US consumer inflation data for April, lifted investor sentiment globally. Asian markets mirrored the US rally, ending mostly higher, while European markets traded with modest losses of around 0.5 per cent in early deals.

Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity, noted, "The Nifty 50 began the session flat at 24,613 before climbing to an intraday high of 24,767. However, the upward momentum faded as profit booking emerged, pulling the index down to a low of 24,535 in a choppy trading session. Sectorally, metals, realty, IT, energy, and media stocks outperformed, while Bank Nifty and financial services lagged. On the economic front, India’s wholesale inflation (WPI) for April 2025 rose 0.85% YoY, slowing from March’s 2.05 per cent. On the derivatives front, 156 stocks advanced versus 64 declines, with notable open interest buildup in RECLTD, TATAMOTORS, JUBLFOOD, MFSL, and ASIANPAINT. In Nifty Key option levels show 25,000 & 25,500 as major call resistances, while 24,000 & 24,500 serve as put supports. The put-call ratio (PCR) of 0.72 suggests a mildly bearish bias."