Mumbai : In a volatile market, India’s market indices rose with BSE Sensex registering a jump of 689.75 points or 0.98 per cent to close at 71060.31 while NSE Nifty rose 215.15 points or 1.01 per cent to close at 21,453.95.
Experts said they anticipated sustained selling pressure from foreign portfolio investors, emphasizing the significance of upcoming results and heightened volatility during the monthly F&O settlement.
Experts also highlighted caution in global sentiments due to Fitch Group’s warning about the impact on on South Asian Economies and increased hostilities in the Red Sea. Market Analysts noted Nifty’s breakdown, signaling potential testing at 50-DMA at 21000, while Bank Nifty faces hurdles and support challenges.
Gold prices on wednesday rose Rs 155 to Rs 62,123 per ten grams in futures trade as speculators created fresh positions on a firm spot demand.
On the Multi-Commodity Exchange, Gold contracts for February delivery traded higher Rs 155 or 0.25 per cent at Rs 62,123 per ten grams in a business turnover of 5562 lots.
Silver, on the other hand, rose Rs 587 to Rs 71,544 per Kg in futures trade as participants widened their bets on a firm spot demand. The rise in silver prices was mainly due to fresh positions built up by the participants on a positive domestic trend.
In another development, the Rupee opened on a flat note and appreciated 1 paise to 83.14 against the US dollar in the early trade on Wednesday amid a muted trend in domestic equities.
Forex traders said Rupee is trading with a slight negative bias amid selling pressure from foreign investors.
At the interbank foreign exchange, the rupee opened at 83.15 against the dollar, then rose to 83.14, registering an increase of 1 paise over its previous close.
