The two key equity benchmarks, Sensex and Nifty, on Wednesday erased early gains and oscillated between gains and losses before closing flat. The domestic indices remained volatile throughout the session ahead of RBI monetary policy on Thursday. The S&P BSE Sensex settled at 72,152, down 34 points. On the other hand, the NSE Nifty50 closed at 21,931, up 1 point.
On the 30-share Sensex platform, SBI, JSW Steel, Bajaj Finance, Axis Bank, UltraCemco, Nestle were among lead gainers. On the down side, PowerGrid, TechM, Infosys, TCS, NTPC, HDFC Bank emerged losers.
In the broader markets, the BSE Midcap index jumped over 1.48 per cent, while the BSE SmallCap rose 0.35 per cent.
Sectorally, PSU Bank index advanced 3.49 per cent, followed by the Realty and Media. On the flip side, Information Technology index lost 1 per cent.
In the previous session on Tuesday, the BSE Sensex settled higher by 455 points at 72,186, while the NSE Nifty50 closed at 21,929, up 158 points.
Asian markets saw mixed results on Tuesday, with Seoul and Shanghai recording gains, while Tokyo and Hong Kong experienced declines. In Seoul, the market ended in positive territory, reflecting optimism among investors. Similarly, Shanghai also settled higher, buoyed by positive sentiment in the region. However, Tokyo and Hong Kong struggled as they ended the day in the negative zone, facing downward pressure from various economic factors.
European markets mostly trended lower during the trading session, indicating a cautious approach among investors amid global economic uncertainties. In contrast, the US markets closed with gains, providing a positive end to the trading day. The upbeat performance was driven by several factors, including positive economic indicators and corporate earnings reports.
According to exchange data, foreign institutional investors (FIIs) bought equities worth Rs 92.52 crore on Tuesday, signaling continued interest in the Indian market.
On the commodities front, the global oil benchmark, Brent crude, saw a modest increase of 0.66 percent, reaching $79.11 a barrel. The rise comes amidst ongoing geopolitical tensions and supply concerns in the oil market.
Meanwhile, the rupee rose 9 paise to close at 82.96 (provisional) against the US dollar on Wednesday. It tracked a correction in the greenback against major currencies and fresh foreign capital inflows. However, a rise in crude oil prices and muted domestic markets capped the sharp gains in the domestic unit, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.03 against the greenback. The unit hit an intraday high of 82.94 and a low of 83.09. The domestic currency finally settled at 82.96 (provisional) against the dollar, higher by 9 paise from its previous close of 83.05.