Despite higher volatility, the benchmark stock market indices closed the trading session on a positive note.
The S&P BSE Sensex saw a gain of 128.33 points, closing at 74,611.11, while the NSE Nifty50 rose by 32.55 points to reach 22,637.4.
Other broader market indices also showed strength during the session.
Among the sectoral indices, Nifty Auto emerged as the top gainer, gaining over 1.13%. Nifty Pharma and Nifty Oil & Gas followed suit, recording gains of nearly 0.9% each. However, Nifty Media witnessed a decline of over 1.5%, emerging as the top loser among sectoral indices.
On the Nifty50, the top gainers included BPCL, Power Grid, Asian Paints, Tata Motors, and Bajaj Auto. Conversely, Kotak Mahindra Bank, Tata Consumer Products, Bharti Airtel, Axis Bank, and HDFC Life were among the top drags on the index.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, attributed the marginal gains in the Indian markets to a sluggish trading session influenced by weak global cues and concerns over inflation affecting the prospects of further rate cuts. He noted that while markets had witnessed a sharp rally in recent sessions, investors were beginning to show apprehension due to higher valuations.
