Mumbai, May 7 (IANS) Despite high volatility during the trading session on Wednesday, Indian stock markets managed to close in the green.
The Sensex erased all the early losses and closed with a gain of 105 points, or 0.13 per cent at 80,746.
Similarly, the Nifty closed the intra-day trading session with a 0.14 per cent gain at 24,414, reclaiming the crucial 24,400 mark.
“Regarding Nifty, the highest open interest on the call side is concentrated at the 24,500 and 24,400 strike prices, while the highest open interest on the put side is seen at 24,300 and 24,400,” said Sundar Kewat of Ashika Institutional Equity.
The Put-Call Ratio (PCR) stands at 0.98, indicating a relatively balanced market sentiment, he added.
The markets opened on a weak note, with early losses triggered by uncertainty in the region. However, confidence returned as the day progressed.
The recovery came as easing global trade tensions, the finalisation of a free trade agreement (FTA) with the United Kingdom, and strong foreign inflows helped offset concerns stemming from rising geopolitical tensions between India and Pakistan.
Support from key sectors such as auto, real estate, and metals helped the indices recover, turning the mood positive by mid-session.
Tata Motors led the rally on the Sensex with a strong 5.2 per cent jump, followed by Bajaj Finance, which gained 2.02 per cent.
Eicher Motors rose 1.41 per cent, matching the gains of Adani Ports, while Titan added 1.27 per cent.
The other notable gainers on the index include Eternal (formerly Zomato), Mahindra and Mahindra, Tata Steel and more.
On the losing side, Asian Paints fell the most, shedding 4 per cent. Sun Pharma declined by 1.95 per cent, ITC lost 1.3 per cent, Nestle India dropped 1.06 per cent, and Reliance Industries slipped 1.01 per cent.
Broader markets also showed strong recovery. After suffering sharp losses in the previous session, both the Nifty Midcap 100 and Nifty Smallcap indices bounced back sharply, each posting gains of around 1.5 per cent.
Among the sectoral indices, all sectors ended in the green, except for FMCG, pharma, and healthcare.
Leading the gains were auto, media, realty, and consumer durables, each rising over 1 per cent.
Meanwhile, market volatility remained elevated as the India VIX — also known as the fear index — rose 3.58 per cent to end at 19.
–IANS
pk/vd
*Except for the headings & sub-headings, this story has not been edited by The enewstime.in and has been published from IANS feed.
