Sensex, Nifty end volatile session marginally higher led by metal stocks

Mumbai, May 13 : Indian benchmark equity indices ended a highly volatile trading session with marginal gains on Wednesday, supported by buying in metal, oil and gas stocks, even as weakness in IT, banking and auto counters capped the upside.

The 30-share Sensex closed 49.74 points, or 0.07 per cent, higher at 74,608.98 after witnessing sharp intra-day swings. During the session, the index touched an intra-day low of 74,134.48 and a high of 75,191.57.

The Nifty settled at 23,412.60, up 33.05 points, or 0.14 per cent. The index moved between a low of 23,262.55 and a high of 23,582.95 during the day.

“Technically, 23,300 continues to remain the immediate support level, followed by 23,100 where significant OI concentration is placed,” an analyst said.

“On the upside, 23,500 now acts as the immediate resistance after the market failed to sustain above it during the session,” the analyst added.

Among the top gainers in the Nifty pack were Asian Paints, Adani Enterprises and Tata Steel, which helped support the benchmarks amid volatile market conditions.

Broader markets also ended in positive territory, with the Nifty MidCap index rising 0.77 per cent and the Nifty SmallCap index gaining 0.31 per cent.

Sectorally, the Nifty Metal, Nifty Oil and Gas and Nifty Consumer Durable indices emerged as the top performers, while the Nifty IT, Nifty Auto, Nifty Bank and Nifty Media indices witnessed the sharpest declines.

Market participants also remained cautious ahead of the scheduled meeting between US President Donald Trump and Chinese President Xi Jinping later in the day, where trade-related issues are expected to be discussed.

Investors further monitored geopolitical developments in West Asia after Washington adopted a tough stance on Iran following Trump’s remarks on a fragile ceasefire, with global cues continuing to influence market sentiment.

“Markets will now closely monitor the US–China summit for further clarity on trade and geopolitical developments," as per the expert.