Key Highlights:
- Sensex gains 144 points, Nifty up 34 points amid L&T-driven rally.
- L&T rises nearly 5 percent after strong Q1 results with 29.8 percent profit growth.
- US-India trade deal uncertainty and FII outflows restrict broader gains.
Mumbai: Indian equity markets closed higher on Wednesday, marking the second consecutive day of gains. The rally was largely supported by strong buying in infrastructure giant Larsen & Toubro (L&T) after it posted strong quarterly earnings.
The BSE Sensex rose 143.91 points or 0.18 percent to end at 81,481.86. During the session, it touched a high of 81,618.96, up by 281.01 points.
The NSE Nifty also gained 33.95 points or 0.14 percent, closing at 24,855.05.
L&T Shares Surge After Robust Results
L&T was the star performer of the day, jumping 4.87 percent after reporting a 29.8 percent rise in consolidated net profit at Rs 3,617.19 crore for the June quarter. The growth was backed by strong overseas order inflows.
Other gainers included Sun Pharma, NTPC, Maruti, Bharti Airtel, Trent, and Axis Bank.
However, Tata Motors, Power Grid, Bajaj Finserv, Eternal, and Hindustan Unilever ended in the red.
Global Uncertainty Caps Gains
Despite the rise, markets traded in a narrow range due to concerns around global trade. US President Donald Trump stated that the US-India trade deal is not yet finalized and hinted at potential tariffs of 20–25 percent on Indian goods.
Analysts said this uncertainty weighed on investor sentiment. According to Ajit Mishra of Religare Broking, “Markets traded in a tight range and ended marginally higher amid mixed cues. The sentiment remained subdued due to the lingering trade deal uncertainty.”
FII Outflows Add Pressure
On the institutional front, Foreign Institutional Investors (FIIs) sold equities worth Rs 4,636.60 crore on Tuesday, adding to the cautious mood.
Global Market Overview
In Asia, Japan’s Nikkei 225 and Hong Kong’s Hang Seng ended lower, while South Korea’s Kospi and Shanghai Composite closed higher.
European markets traded mixed, and US markets ended lower on Tuesday.
Brent crude oil also fell by 0.44 percent, trading at USD 72.19 per barrel.
(With PTI Inputs)
