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The Benchmark Indian Indices advanced after a choppy start on Wednesday even as concerns over trade conflict and major upcoming events kept investors cautious.
Asian markets remained volatile as the tariffs imposed by the US are likely to come into effect this week and this is one of the prime reasons for the investors trading cautiously. Wall Street also plunged, giving up early gains in a truncated session ahead of the Independence Day holiday.
The BSE Sensex ended the day 266 points higher and the NSE Nifty reclaimed its 10,750-mark, to end the day at 10,769.9 points.
The Indian rupee strengthened modestly against the US dollar, tracking gains in Asian currencies. On the other hand, the Chinese yuan was positioned near 11-month lows as the threat of a US-Sino trade war spooked investors. Oil prices remained supported as greater-than-expected fall in US stockpiles augmented worries about a supply shortage.
Metal stocks were among the biggest losers on both indexes, while pharma shares were among the gainer. MidCaps on both indexes remain under pressure. Sun Pharma, HDFC, Bajaj Auto and Coal India were among the major gainers, whereas Vedanta, Adani Ports, ONGC and Yes Bank were among the top losers on the 30-share index.
