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Indian markets ended marginally higher on Wednesday, tracking mixed global cues. Equity benchmarks BSE Sensex and NSE Nifty, after remaining in the red most of the day, closed 0.14 per cent higher due to later-hour buying in energy and IT stocks.
According to analysts, the market is likely to remain range-bound ahead of the holidays. The US market will remain closed on Thursday and half a day on Friday on account of Thanksgiving Day, while the Indian market will be closed on Monday on account of Gurunanak Jayanti.
Top gainers, losers
While the Sensex advanced 92.47 points to 66,023.24, Nifty gained 28.45 points to 19,811.85.
Within the Sensex pack, NTPC emerged as the top gainer (rising 1.50 per cent), followed by Infosys which rose 1.27 per cent, Power Grid Corporation of India (1.24 per cent) and Titan (0.94 per cent).
On the other hand, IndusInd Bank lost 2.10 per cent followed by Kotak Mahindra Bank (1.16 per cent), Mahindra and Mahindra (1.07 per cent) and JSW Steel (1 per cent).
The broader market was mixed. While BSE MidCap (0.33 per cent) and BSE 500 (0.01 per cent) ended in green, BSE SmallCap lost 0.63 per cent.
Fed’s meeting minutes
According to Siddhartha Khemka, Head-Retail Research, Motilal Oswal Financial Services Ltd, global markets were mixed after US FOMC meeting minutes signalled Fed’s cautious approach towards rate hike.
“Market is likely to remain lacklustre and consolidate in a range in the absence of any major events, and start of holiday season,” he added.
Sectoral Indices
Major sectoral indices ended on a positive note. BSE Power surged 1.41 per cent followed by BSE Auto (0.64 per cent) and BSE Healthcare (0.54 per cent).
- Also read: Sensex, Nifty climb on buying in Reliance
On the other hand, BSE Telecommunication, with a 0.63 per cent decline, lost the most among the sectoral indices.
Market breadth
Of the 3,830 stocks traded on BSE, 1,583 stocks advanced, 2,123 declined and 124 remained unchanged. While 304 stocks hit a 52-week high, 32 stocks hit a 52-week low on the BSE.
FII outflows
The foreign institutional investors (FIIs) remained as net sellers for the third day in a row. They offloaded equities worth ₹306.56 crore, per the exchange’s provisional data.
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