Share Market: Sensex About 150 Points Up, Nifty Closes Over 22,900; US Fed's Policy Decision Awaited

On the 30-share Sensex platform, Tata Steel, Zomato, PowerGrid, and IndusInd Bank closed the day in green. Meanwhile, the only laggards in the session included Tech M, TCS, ITC, Infosys, and Maruti.

Benchmark equity indices Sensex and Nifty closed the trading session on Wednesday in the positive territory. The markets witnessed a muted start to the day, but indices managed to recover and remain in green in the session. As such, the BSE Sensex closed the day at nearly 75,450, climbing almost 150 points, while the NSE Nifty settled just above the 22,900 mark, jumping over 70 points.

This marked the third consecutive higher ending for the markets. On the 30-share Sensex platform, Tata Steel, Zomato,PowerGrid, UltraTech Cement, and IndusInd Bank closed the day in green. Meanwhile, the only laggards in the session included Tech M, TCS, ITC, Infosys, and Maruti.

In the broader markets, the Nifty Midcap 100 index dominated the session and ended 2.63 per cent higher. Sectorally, the Midsmall Financial Services and Realty indices climbed high and closed 3.17 per cent and 2.80 per cent higher respectively. On the other hand, the IT index settled over 1 per cent lower.

Global Markets And Macro Indicators

Vikram Kasat, PL Capital noted that market sentiment remained strong backed by mixed global cues and hopes of a possible truce between Russia and Ukraine. The analyst noted that major events such as the US Federal Reserve's interest rate policy and dialogue between US President Donald Trump and his Russian Counterpart Vladimir Putin remained in key focus for the market.

In Asian markets, Seoul and Hong Kong closed the session higher, while Tokyo and Shanghai ended in red. The European markets traded on a mixed note while the US markets settled on Tuesday in the negative territory. The foreign institutional investors (FIIs) turned buyers on Tuesday and infused Rs 694.57 crore in Indian equities on Tuesday, while domestic institutional investors (DIIs) also bought equities worth Rs 2,534.75 crore, official exchange data revealed.

Vinod Nair, Head of Research, Geojit Financial Services, said, "The domestic market continued its positive momentum, as part of the recent correction was justified by valuation. The sustainability of the relief rally depends on a revival in fundamentals. The recovery was broad-based, while metal stocks gained attention after the government decided to impose a tax on steel imports. In light of trade uncertainties and growth concerns, today's FED policy and the commentary will be keenly watched by investors to get cues on interest rates." The global oil benchmark Brent crude slipped 0.78 per cent to touch $70.01 a barrel.