The stock market closed higher on Wednesday, November 4, following a volatile trading session during which benchmark indices moved between positive and negative territory. The Sensex and Nifty recovered from early losses to finish in the green, supported by buying in banking, automobile, metal and media stocks.
The BSE Sensex ended at 77,301.40, gaining 383.55 points or 0.50%. It had opened at 76,853.11 and dropped to an intraday low of 76,604.85 before recovering to reach a high of 77,396.04.
The NSE Nifty 50 settled at 23,960.60, up 149.75 points or 0.63%. After opening at 23,742.25, the index slipped to a low of 23,696.15 before recovering to touch its day's high of 23,960.60.
Both benchmarks began the session on a positive note but came under pressure as trading progressed, briefly entering negative territory. However, buying at lower levels helped them regain ground and end the day closer to their respective highs.
TOP SENSEX GAINERS AND LOSERS
Among Sensex constituents, Bharat Electronics (BEL) led the gains with a rise of 4.56%. Titan followed, advancing 4.28%, while InterGlobe Aviation (IndiGo) climbed 2.39%.
Bajaj Finance rose 2.38%, ITC gained 2.32% and Adani Ports advanced 2.30%. Bajaj Finserv, Tata Steel, Mahindra & Mahindra, HDFC Bank and UltraTech Cement were among the other stocks that recorded notable gains.
IT stocks, meanwhile, emerged as a major drag. Tata Consultancy Services (TCS) recorded the biggest decline on the Sensex, falling 2.70%. HCL Technologies dropped 2.23%, while Infosys shed 1.65%.
Eternal declined 1.60%, Kotak Mahindra Bank slipped 1.08% and Asian Paints fell 0.45%. Tech Mahindra and Larsen & Toubro also finished the session in negative territory.
SECTORAL INDICES: IT DRAGS, METAL AND MEDIA SHINE
Most sectoral indices ended with gains, although the IT segment continued to face selling pressure.
Nifty Media topped the sectoral charts with a 5.15% rise. Nifty Realty advanced 2.85%, while Nifty Metal gained 2.80%. Nifty Consumer Durables climbed 2.04% and Nifty FMCG added 1.50%.
Nifty Auto rose 1.16%, while Nifty Financial Services 25/50 gained 1.08%. Nifty PSU Bank, Nifty Pharma and Nifty Private Bank also closed higher.
In contrast, Nifty IT declined 1.50%, making it the biggest sectoral drag on the market. The weakness was visible in losses recorded by major technology stocks such as TCS, HCL Technologies and Infosys.
Broader market indices performed better than the benchmark indices, pointing to wider participation in the market's recovery.
The Nifty Smallcap 100 rose 2%, while the Nifty Midcap 100 gained 1.55%. The Nifty Midcap 50 advanced 1.42%, and the Nifty 500 finished 1.11% higher. The Nifty 200 and Nifty 100 recorded gains of 0.96% and 0.82%, respectively.
The India VIX, which tracks expected market volatility, fell 2.83% to 15.28, indicating a moderation in market anxiety.
Crude oil prices also edged lower during the session. US West Texas Intermediate (WTI) crude futures traded at $95.95 per barrel, down 0.15%, while Brent crude futures declined 0.73% to $102.84 per barrel, according to the market data snapshot.
The decline in crude prices provided some relief to the market, though stock-specific developments and sectoral movements largely influenced trading during the session.
