Benchmark indices NSE Nifty 50 and BSE Sensex ended Wednesday’s session in green despite mostly negative global cues. The NSE Nifty 50 gained 40.15 points 0.21% to 18,856.85. The BSE Sensex after touching an all time high of 63,588.31, cut some gains and settled 195.45 points or 0.31% higher at 63,523.15. In sectoral indices, Bank Nifty rose 92.70 points or 0.21% to 43,859.20, Nifty PSU Bank was up 0.44% while Nifty FMCG fell 0.44% and Nifty Metal tanked 0.94%. The top gainers Nifty 50 were Power Grid, ONGC, Adani Ports, HDFC Bank and HDFC while the losers were JSW Steel, Hindalco, Divis Lab, Mahindra & Mahindra and ITC.
“Despite hitting record highs, the domestic market failed to sustain its upward trajectory due to prevailing concerns over global issues and a delayed monsoon. Furthermore, market volatility was exacerbated by consecutive days of net selling by FIIs, while mid-cap stocks maintained their steady gains. Meanwhile, in the global market, sentiments were dampened as UK CPI inflation came in hotter than expected, adversely affecting investor confidence,” said Vinod Nair, Head of Research at Geojit Financial Services.