Sensex, Nifty open in the green, currency markets closed

The key Indian equity indices on Wednesday had continued with their second consecutive session of gains to close on a higher note as healthy buying was witnessed in index heavyweights such as ITC, HDFC, Tata Motors and Hindustan Unilever (HUL), among others.

The NSE 50-share Nifty also traded higher by 11.55 points, or 0.12 per cent, to 9,805.70 at 1100 hours. The company said it will consider the share buyback at a board meeting on August 19.

The fall was led by sectors such as banks, auto, pharmaceuticals and FMCG stocks, while the sectors that ended in the green included was information technology. L&T closed lower by 0.76% at Rs 1,133 per share. The Nifty resumed higher at 9,945.55 and hovered in a range of 9,947.80 and 9,883.75 before ending at 9,904.15, showing a gain of 6.85 points or 0.07 per cent.

At 12.45 p.m., it rose by 26.55 points or 0.27 per cent to trade at 9,923.85 points.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declining. The Nikkei Asia300 Index that tracks significant companies in Asia rose 0.2%.

Market closed marginally higher amidst volatile trade.

In Asia, most of the indices gained after investors took heart from the minutes of a U.S. Federal Reserve meeting that showed policymakers wary about weak inflation, indicating that the Fed may slow the pace of rate increases.

Coal India, one of the worst performing stocks this year, rebounded 4.2% to 247.05 rupees, helped by an attractive dividend yield.

Mid- and small-cap indices closed mixed. The apex court upheld an order by the Delhi High Court which allowed the company to use land at Delhi airport for non-aviation or commercial purposes. Along with this, value buying on the back of decline on Wednesday could have boosted investors' interest in the stock.

  • Wendy Palmer