Mumbai, Dec 11 – On Wednesday, benchmark equity indices Sensex and Nifty experienced modest gains in a constrained trading environment, as investors remained cautious ahead of the crucial US inflation data release, which is anticipated to provide further market direction.

The 30-share BSE Sensex increased by 16.09 points, or 0.02 percent, concluding the day at 81,526.14. Despite this uptick, 17 of its constituents saw declines, while 13 stocks advanced. In contrast, the broader NSE Nifty broke its three-day losing streak, rising by 31.75 points, or 0.13 percent, to settle at 24,641.80.

Among the gainers in the Sensex pack were notable companies such as Bajaj Finance, Nestle India, Bajaj Finserv, Asian Paints, UltraTech Cement, Infosys, Maruti, Bharti Airtel, and Hindustan Unilever. Conversely, the laggards included JSW Steel, Adani Ports, NTPC, State Bank of India, Reliance Industries, Tech Mahindra, Axis Bank, Titan, and HDFC Bank.

Vinod Nair, Head of Research at Geojit Financial Services, commented on the market’s performance, stating, “The Indian market exhibited subtle movements, reflecting mixed sentiments prevailing in global markets ahead of the US CPI inflation data release, which could influence the Fed policy.”

The BSE smallcap index rose by 0.35 percent, while the midcap index gained 0.25 percent. Sectoral performance was varied, with Consumer Durables up by 0.59 percent, Industrials by 0.40 percent, and Auto by 0.37 percent. The IT and Teck sectors each rose by 0.35 percent, and FMCG increased by 0.34 percent. However, Utilities, Bankex, Power, and Services sectors faced declines.

In a notable development, shares of PNC Infratech surged by 12 percent, closing at Rs 347.90 per share, following the announcement of the early completion of a significant highway project in Uttar Pradesh, which bolstered investor confidence. During the trading session, the stock reached an intraday high of Rs 357.15, marking a 15 percent increase.

On the other hand, shares of Swiggy, a major player in food delivery and quick commerce, fell by 4 percent to close at Rs 522.70 per share, as investors took profits following the expiration of a one-month lock-in period for anchor investors.

Overall, on the BSE, 2,146 stocks advanced, 1,840 declined, and 110 remained unchanged. The market capitalization of BSE-listed companies rose by Rs 91,110.2 crore, reaching Rs 4,60,46,637.96 (USD 5.43 trillion).

Ameya Ranadive, a Chartered Market Technician and Senior Technical Analyst at StoxBox, noted, “The market exhibited a lackluster performance on Wednesday, trading within a narrow range of just 107 points, marking the smallest trading range over the past seven sessions. The index remained close to its previous trading range, with relatively low trading volume suggesting a compression in volatility.”

In Asian markets, Tokyo, Shanghai, and Seoul closed higher, while Hong Kong ended in negative territory. European markets displayed mixed trends, and US markets closed lower on Tuesday.

Additionally, the global oil benchmark, Brent crude, saw an increase of 0.98 percent, reaching USD 72.90 per barrel. According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,285.96 crore on Tuesday.

On the previous trading day, the 30-share BSE Sensex edged up by 1.59 points, closing at 81,510.05, while the NSE Nifty fell by 8.95 points, settling at 24,610.05.