The day’s final settlement also saw the benchmarks recover from their 3:15 pm levels, with the Nifty adding 55 points and the Sensex rising 80 points during the closing process. The new CAS framework, introduced by exchanges this week, has altered the way closing prices are determined for F&O-linked stocks, leading to heightened focus on end-of-day moves.
Market participation remained broad-based with advancing stocks outnumbering decliners, while midcap shares continued to outperform the benchmark indices, underlining sustained risk appetite beyond the large-cap space.
The banking pack emerged as the key drag on the market. Heavyweights HDFC Bank and ICICI Bank witnessed selling pressure, weighing on the Nifty Bank index, which declined 167 points to close at 57,740. The weakness in lenders prevented stronger gains in the benchmark indices even as several other sectors remained firmly in the green.
In contrast, non-banking financial companies (NBFCs) such as Shriram Finance and Cholamandalam Investment were among the notable gainers as buying momentum in the segment persisted.
Auto stocks extended their recent upmove, with the Nifty Auto index rising around 1%. Investors remained positive on both automobile manufacturers and ancillary companies, helping the sector rank among the day’s top performers.
Metal counters also found favour after further weakness in the US dollar improved sentiment towards commodity-linked stocks. JSW Steel and Hindalco gained about 2% each, while Hindustan Zinc surged 6% on the back of strength in silver prices. Vedanta also traded higher alongside gains across the metals pack.
The broader market delivered a mixed but positive earnings-driven picture. Jubilant FoodWorks, Bosch, Mphasis and 360 One Wealth featured among the leading midcap gainers. Realty and housing finance names also drew buying interest, with Godrej Properties andPNB Housing Finance advancing 4% each after management commentary was viewed positively by investors.On the flip side, Kalyan Jewellers declined 4% after reporting a year-on-year drop in margins. Exchange operators MCX and BSE fell 2-3% as investors reacted cautiously to their June-quarter earnings.
Meanwhile, Nykaa and Marico ended lower despite reporting healthy results.
The Indian rupee strengthened against the US dollar, ending at 95.12 per dollar, compared with 95.38 per dollar in the previous session. The domestic currency gained 26 paise during the day, marking a firm close amid currency market activity.
In Asia, barring Singapore’s FTSE, most indices closed higher Wednesday, with South Korea’s Kospi leading the gains. The technology-heavy index closed around 4% higher. Japan’s Nikkei 225 was the second-highest gainer in the region. The Japanese benchmark index also closed around 4% higher. The broader market Topix closed more than 2% higher. Singapore’s FTSE was the only index in the region which was in the red during the last hour.
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