On a sectoral front, the Nifty PSU bank index gained about 2 per cent, while the Nifty auto, metal, realty and oil & gas indices gained more than a per cent each. 
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On a sectoral front, the Nifty PSU bank index gained about 2 per cent, while the Nifty auto, metal, realty and oil & gas indices gained more than a per cent each. Domestic equity markets managed to settle with mild gains after a choppy trade on Thursday. BSE Sensex and NSE Nifty scaled their fresh all-time highs during the session, despite the volatility at Dalal Street triggered by mixed global cues, which was offset by buying in select pockets. However, positive US inflation numbers bode well for the equity markets. For the day, BSE's barometer Sensex posted mild gains of 52.01 points, or 0.08 per cent, to settle at record closing of 67,519, while NSE's Nifty50 added 33.10 points, or 0.16 per cent, to register a new closing peak of 20,103.10. Broader markets outperformed the headline peers as BSE midcap and smallcap indices added more than a per cent each. Fear gauge India VIX dropped more than 4 per cent to 11.32-level. While the north-bound journey continued the uptick lacked the firepower as seen in recent sessions as valuations are becoming expensive and investors are taking a cautious route. Rising global crude oil prices are also making investors jittery as this could stoke inflation and force central banks worldwide to maintain the rate hike regime, said Shrikant Chouhan, Head of Research (Retail) at Kotak Securities. "On intraday charts the market is holding a higher bottom formation which is indicating that the uptrend wave is likely to continue in the near future. As long as the Nifty is trading above the 20000 mark the positive sentiment is likely to continue till 20,180-20,225 levels. On the flip side, below 20,000, the selling pressure could accelerate and drag the index up to 19,920-19,900," he said. On a sectoral front, the Nifty PSU bank index gained about 2 per cent, while the Nifty auto, metal, realty and oil & gas indices gained more than a per cent each. Among the laggards, the Nifty media index topped, followed by the Nifty FMCG and consumer durable indices, which also posted mild cuts. Strong momentum persisted in the PSU banks and metal sectors while media indices were the laggards. Broader markets regained the momentum and mid-smallcap indices surged to outperform the Benchmark Index. A spinning top candlestick pattern was formed in the Nifty daily chart which indicates possible consolidation, said Aditya Gaggar, Director at Progressive Shares. In the Nifty50 pack, UPL topped among the gainers, rising about 4 per cent. It was followed by Hindalco, which gained more than 3 per cent. Mahindra & Mahindra, ONGC, Divis Laboratories, Eicher Motors, Tata Steel and Tech Mahindra gained 2 per cent each for the day. Among the laggards, Asian Paints dropped more than a per cent, followed by HDFC Life Insurance Company and Coal India. Britannia Industries, LTIMindTree, Tata Consumer Products, Adani Ports and ITC declined about a per cent each. The market traded range-bound after touching a new high as higher-than-expected US inflation and anticipation of hawkish ECB policy meetings later today impacted investor sentiment. Concern over valuation and inflation trajectory due to increasing oil prices may navigate the market into a consolidation phase in the near-term, said Vinod Nair, Head of Research at Geojit Financial Services. A total of 3,784 shares were traded on BSE on Wednesday, of which 2,177 settled with gains. 1,480 stocks ended the session with cuts while 127 shares remained unchanged. A total of seven shares hit their upper circuit, whereas the same number of shares tested the lower circuit levels for the day. In the broader market space, Kalyani Steels, Andrew Yule & Company and DCW gained about 15 per cent each. BCL Industries gained about 13 per cent while Magadh Sugar & Energy, Cressanda Solutions, Central Bank of India and Sanghvi Movers rose 11 per cent each for the day. Among the losers, PDS dropped more than 5 per cent, while KFin Technologies, Kellton Tech Solutions and GMDC gained over 4 per cent each. Suven Pharmaceuticals, Infibeam Avenues and Supreme Industries declined 3 per cent each for the day.
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