Indian shares eked out modest gains on Wednesday despite weak cues from global markets.
Benchmark indexes Sensex and Nifty both closed at record highs today despite China growth worries, the release of stronger than expected inflation data from the U.K. and anxiety ahead of remarks by Fed Chair Jerome Powell and several other Fed officials.
The benchmark S&P BSE Sensex ended the session up 195.45 points, or 0.31 percent, at 63,523.15, while the broader NSE Nifty index settled 40.15 points, or 0.21 percent, higher at 18,856.85.
Among the top gainers, HDFC, HDFC Bank, Adani Ports, ONGC and Power Grid Corp rallied 2-4 percent.
Disappointment over a lack of additional stimulus in China weighed on metal stocks, with Hindalco and JSW Steel both falling around 2 percent.
The dollar traded higher in European trade while gold hovered near three-month lows, as upbeat U.S. housing data released overnight and stronger than expected U.K. inflation data released this morning revived fears about inflation and interest-rate rises.
Oil prices were steady after two sessions of losses on concerns about the outlook for energy demand.
Market Analysis
Sensex, Nifty End At Record Highs Despite Weak Global Cues
2023-06-21 10:26:39
