FPJ News Service mumbai

Profit booking continued in broader markets on Wednesday, driven by elevated domestic valuations. Large cap stocks’ resilience is supporting indices as institutional investors choose companies with stable outlook. The 30-share BSE Sensex rose by 123.42 points to close at 82,515.14. The 50-share NSE Nifty closed 37.15 points higher at 25,141.40, marking its sixth straight day of gains.

HCL Tech, Infosys, Tech Mahindra, Reliance Industries, Bajaj Finserv, ICICI Bank, Tata Motors and Eternal were the top gainers. Power Grid, Adani Ports, IndusInd Bank, Nestle, HDFC Bank and HUL were among the top losers.

“Profit booking continues in the broader markets, driven by elevated domestic valuations. However, large-cap resilience is supporting the indices, with institutional investors favouring companies with stable earnings outlooks. The Auto and IT sectors remain in focus—Auto stocks are gaining on improved monthly sales, while IT are benefiting from optimism around a potential US-China trade resolution.

Meanwhile, following the recent rally, the market lacks clear direction as investors await key macroeconomic data and updates on trade negotiations. US inflation data, due later today, is expected to show a slight uptick, driven by recent tariff increases,” said Vinod Nair, Head of Research, Geojit Investments.

Shares of breweries and distilleries companies declined on Wednesday after the state cabinet approved revenue-boosting changes in the excise department, including a liquor duty hike. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled in the positive territory. European equity markets were trading higher.