Sensex, Nifty End 4-Day Slump; Asian Paints, Tata Steel Lift Markets
Sensex, Nifty End 4-Day Slump; Asian Paints, Tata Steel Lift Markets
Markets bounce back as Sensex and Nifty end their four-day slide, led by gains in Asian Paints and Tata Steel amid easing crude prices.
Domestic equity benchmarks BSE Sensex and NSE Nifty snapped a four-day losing streak on Wednesday, supported by gains in metals and oil & gas stocks amid easing crude oil prices despite uncertainty around the fragile US-Iran ceasefire. At close, the Sensex gained 49.74 points, or 0.07 per cent, to settle at 74,608.98, while the Nifty rose 33.05 points, or 0.14 per cent, to close at 23,412.60.
Among Sensex constituents, Asian Paints emerged as the top gainer, rising 4.37% to Rs 2,615, followed by Tata Steel with a 3.68% jump. Adani Ports, Bharat Electronics (BEL), Bharti Airtel and Larsen & Toubro (L&T) advanced 3.02%, 1.78%, 2.93% and 1.56% respectively.
Infosys, Mahindra & Mahindra (M&M) and Sun Pharma were among the laggards on the 30-share index, slipping up to 2.07%. Traders described the session as flat to positive with a cautious undertone, aided by dip buying and short covering in mid- and small-cap stocks. A sharp increase in import tariffs on precious metals was said to be sentimentally positive for the INR, helping support the market mood.
Broader markets outperformed on the day, reflecting selective buying in select counters despite mixed global signals and ongoing macro uncertainties. Investors will be watching for further cues from crude oil movements and global economic data as they navigate the near-term volatility.
