Indian equity indices recovered on Wednesday, ending on a positive note with BSE Midcap rising 1 per cent and Smallcap index rising 1.6 per cent. At close, the Sensex was up 182.34 points or 0.22 percent at 81,330.56, and the Nifty was up 88.55 points or 0.36 percent at 24,666.90.
The major gainers on the Nifty included Tata Steel, Shriram Finance, Bharat Electronics, Hindalco Industries, and Eternal; while losers included Asian Paints, Cipla, Tata Motors, Kotak Mahindra Bank, and NTPC. Among sectors, except bank, all other sectoral indices ended in the green with realty, oil & gas, telecom, media, IT and metal indices up 1-2.5 percent.
Gold rates also corrected for the second time this week, with both 24-carat and 22-carat gold rates dropping, mainly due to easing geopolitical tensions between India and Pakistan. In fact, international gold prices also softened following de-escalation in US-China trade relations.
The 24 carat gold rate today slipped by Rs. 540 per 10 grams to cost Rs. 96,060 per 10 grams, and the 22-carat gold prices fell by Rs. 500 per 10 grams to cost Rs. 88,050 per 10 grams. Similarly, the 18-carat gold rate also decreased by Rs 410 per 10 grams, currently retailing for Rs 72,040 per 10 grams.
The rupee pared most of its initial gains and ended the day higher by 10 paise at 85.26 (provisional) against the American currency on Wednesday, supported by gains in domestic equities and positive macroeconomic data.
Forex traders said the weakness of the American currency in the overseas market and rising appetite for riskier assets amid easing trade tariff tensions boosted investors' sentiments.
At the interbank foreign exchange, the domestic unit opened on a positive note and moved between the intra-day high of 85.05 and the low of 85.52 against the greenback. The unit ended the session at 85.26 (provisional), registering a gain of 10 paise over its previous closing level.
Follow us
