Indian benchmark indices initiated Wednesday's trading session on an optimistic note, buoyed by positive global cues. In early trading, the BSE Sensex demonstrated a surge, escalating by 191 points, equivalent to a 0.23% increase, to reach 84,820. Similarly, the NSE Nifty mirrored this upward trajectory, gaining 74 points, or 0.29%, to touch 26,011.
Among the top performers on the Sensex were Asian Paints, Sun Pharma, Reliance Industries, HCL Tech, Trent, Tata Steel, Adani Ports, Titan, and Kotak Bank. Conversely, M&M, Tata Motors PV, Bajaj twins, Eternal, and BEL were among the top losers.
Broader market indices presented a mixed performance. The Nifty MidCap index saw a gain of 0.15%, while the Nifty SmallCap index experienced a slight dip of 0.04%. Sector-wise, the Nifty Metal index led the pack with a 0.5% increase, followed by Nifty Financial Services, Private Bank, and FMCG indices, each gaining 0.2%. However, the Nifty Capital Markets index faced pressure, declining by 3%.
In related news, the Business Standard BFSI Insight Summit 2025 commenced on Wednesday, bringing together key figures from various sectors, including government, regulatory bodies, banking, insurance, equity markets, and fintech.
In the commodities market, early trade saw a slight dip in the price of 24-carat gold, decreasing by ₹10, with ten grams trading at ₹1,20,810, according to GoodReturns website. Silver prices also experienced a downturn, falling by ₹100, with one kilogram selling at ₹1,50,900. The price of 22-carat gold also decreased by ₹10, with ten grams selling at ₹1,10,740.
Earlier in the week, on Tuesday, October 28, Indian benchmark indices concluded a volatile trading session marginally in the red, influenced by fag-end buying. The BSE Sensex experienced a loss of 151 points, or 0.18%, to close at 84,628, while the Nifty 50 declined by 30 points, or 0.11%, to settle at 25,936. Despite the downturn in benchmark indices on Tuesday, the broader markets demonstrated resilience, with the BSE Midcap index gaining 0.12% and the BSE Smallcap index adding 0.06%.
Vinod Nair, Head of Research at Geojit Investments, noted that the domestic market remained volatile due to profit booking and weak global cues. However, renewed optimism in the Metals sector, driven by China's announcement to curb steel overcapacity and potential progress in US-China trade relations, contributed to gains. PSU banks also outperformed amid reports of a potential increase in FII holding limits.
Among Nifty 50 stocks on Tuesday, JSW Steel and Tata Steel were the top gainers, with metal stocks rising by 2.82% each. SBI Life, L&T, and HDFC Life also performed well. Conversely, Kotak Mahindra Bank, Bharat Electronics, and Infosys were among the laggards.
Several stocks experienced significant gains on the NSE, with CarTrade Tech leading the pack after posting strong Q2 results. Utkarsh RE, Davangere Sugar Company, and Newgen Software also saw substantial gains. Sector-wise, Metals and PSU Bank indices emerged as top performers, while Nifty IT faced the most significant decline.
