Indian equity markets closed on a mixed note on Wednesday after a highly volatile session. The Nifty 50 edged slightly higher, while the Sensex ended marginally in the red. Investors remained cautious amid mixed global cues and ahead of key domestic GDP data, leading to sharp intraday swings and largely range-bound movement in the benchmark indices.
Index performance
Sensex declined 27.46 points (0.03%) to close at 82,248.61.
Nifty 50 gained 14.05 points (0.06%) to settle at 25,496.55.
Nifty Bank rose 144.35 points (0.24%) to end at 61,187.70.
Nifty IT added 27.85 points (0.09%) to close at 30,554.20.
Sectoral trends
Healthcare and pharmaceutical stocks led gains during the session. The Nifty Pharma index advanced over 1%, with Sun Pharma among the key contributors.
Auto and PSU bank stocks also supported the market, while IT stocks remained in positive territory after paring early gains.
On the downside, media and select financial stocks saw selling pressure. HDFC Bank and Power Grid Corporation were among the notable drags on the Sensex.
Although the Nifty IT index surged nearly 2% in early trade following strong earnings from AI chipmaker Nvidia, gains moderated through the session, with the index closing around 0.3% higher.
What influenced the market?
Global cues: Domestic equities tracked a technology-led rally across US and Asian markets after robust earnings from Nvidia boosted sentiment in global tech stocks.
Institutional activity: Foreign Portfolio Investors were net buyers on Wednesday, infusing ₹2,991 crore into Indian equities. However, the early momentum faded by Thursday’s close.
Economic watch: Investors remained on the sidelines ahead of India’s GDP data scheduled for release on Friday, February 27, which contributed to the cautious tone.
Repo rate unchanged
In its latest policy review, the Reserve Bank of India kept the repo rate unchanged at 5.25%. The central bank cited resilient domestic growth, projecting GDP expansion of 7.4% for FY26. The neutral stance comes amid easing inflationary pressures and reduced trade tensions following a tariff reduction agreement between India and the United States.
Currency & Commodities update
The Indian rupee closed slightly stronger at around 90.91 per US dollar. Support from the Reserve Bank of India’s liquidity management measures and record-high foreign exchange reserves of $725.7 billion helped stabilise the currency near the psychological 91 level, despite persistent corporate dollar demand.
MCX gold futures for April fell sharply to ₹1,59,360, down ₹1,785 (1.11%).
MCX silver prices for March declined to ₹2,59,774, losing ₹8,542 (3.18%).
Market takeaway
Thursday’s session reflected consolidation after recent volatility. While selective sectoral strength in pharma, auto, and IT supported the Nifty, caution prevailed ahead of key macro data. Near-term direction will likely depend on domestic growth numbers and sustained institutional flows.
Source: Livemint, Google Finance
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