Market wrap: Shriram Finance, Grasim, TCS among top gainers and losers on Nifty and Sensex on Wednesday

The Indian stock market closed almost flat on Wednesday with Sensex and Nifty ending the session in the green after recording sharp upswings and downswings amid confusion surrounding the newly introduced closing auction session (CAS).

Sensex rose 152 points to close at 78,581, while the Nifty 50 gained 10 points to end at 24,625 on Wednesday. Meanwhile, India VIX, the market's volatility gauge, fell 1.5% to 12.

Here are today’s top gainers on Nifty

Here are today’s top gainers on the Sensex

Here are today’s top losers on Nifty

Here are today’s top losers on the Sensex

What lies ahead for Dalal Street?

The Reserve Bank of India (RBI) MPC has maintained the status quo while marginally upgrading FY27 GDP growth projection, citing a resilient domestic economy. Additionally, annual inflation estimates were lowered, indicating the governor’s open-minded approach, which suggested an optimistic view, though further policy action would depend on data, said Vinod Nair, Head of Research at Geojit Investments.

Consequently, a rise in crude prices following renewed concerns over escalating tensions in West Asia led Indian markets, which had opened strongly, to gradually move lower during the course of the session, the analyst noted.

Defying the broader market trend, realty and auto stocks outperformed on strong demand expectations ahead of festive season and supportive financing conditions, while metal stocks gained on the back of an improved GDP growth outlook and robust domestic demand, Nair further said.

Technical view on Nifty

The Nifty remained range-bound throughout the session as traders largely stayed on the sidelines following the interest rate announcement and the release of economic projections, said Rupak De, Senior Technical Analyst at LKP Securities. On the downside, 24,500 acted as a key support level, while the index failed to sustain above 24,700 during the day, he added.

“In the short term, we expect the Nifty to remain largely range-bound. Immediate support is placed at 24,400, while 24,800 remains the crucial resistance level. A decisive move above 24,800 could trigger a meaningful rally in the index,” the analyst said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)