Markets on Wednesday witnessed a revival in the equity benchmark indices, bolstered by a late-stage surge in key constituents like Reliance Industries, ITC, and M&M, coinciding with a positive commencement in European markets.
Throughout the day, a sense of cautious trading held sway in the markets, a trend largely attributed to the imminent unveiling of two pivotal events—namely, the RBI's monetary policy pronouncement and the impending release of US inflation data--both slated for Thursday's disclosure.
The 30-share BSE Sensex embarked on an ascent, adding 149.31 points or 0.23 percent to settle at 65,995.81. However, it experienced a dip during the day, relinquishing 402.12 points or 0.61 percent to reach 65,444.38. Notably, the benchmark scale reached a zenith at 66,066.01. The NSE Nifty made strides as well, accruing 61.70 points or 0.32 percent to culminate at 19,632.55.
Emerging as the frontrunner on the Sensex landscape, JSW Steel recorded a substantial gain of 2.68 percent, closely tailed by the likes of Tata Motors, Mahindra & Mahindra, Tata Steel, Titan, ITC, Tech Mahindra, NTPC, Reliance Industries, and Larsen & Toubro.
In stark contrast, Bajaj Finance, Maruti, ICICI Bank, Power Grid, Asian Paints, and Axis Bank found themselves positioned as noteworthy underperformers.
Over in Asian markets, Tokyo and Shanghai underwent a downturn, whereas Seoul and Hong Kong celebrated a finale in the green. Conversely, the European markets were adorned with positivity, while the US markets witnessed a retreat in the aftermath of Tuesday's trading session.
According to exchange data, Foreign Institutional Investors (FIIs) shed equities valued at Rs.711.34 crore on Tuesday.
Meanwhile, the global oil benchmark, Brent crude, experienced an ascension of 0.79 percent, settling at USD 86.85 per barrel.
On the currency front, the rupee exhibited a commendable gain of 5 paise, culminating at 82.86 against the US dollar on Wednesday.
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Markets Decline Ahead of RBI Policy Review and US Inflation Data
