Indian equity markets recorded marginal gains on Wednesday, with both benchmark indices snapping their four-session losing streak. According to reports from ET Now, the 30-share BSE Sensex gained 50 points or 0.07 per cent to close at 74,609, while the NSE Nifty50 rose 33 points or 0.14 per cent to close at 23,413. The recovery was powered by gains in heavyweight stocks including Bharti Airtel, L&T, Dixon Tech, Tata Steel, Hindalco, Asian Paints and Bharat Electronics. As reported by The Economic Times, the NIFTY50 index touched an intraday high of 23,583 and a low of 23,262 before closing with minor gains as investor sentiment turned cautious after the rupee hit a new record low of 95.75 against the US dollar.
Market performance was broad-based with seven of 15 sector gauges compiled by the National Stock Exchange (NSE) ending higher, led by the NIFTY Metal index's 3.2% gain. According to The Economic Times, NIFTY Consumer Durables, Oil & Gas, FMCG and Pharma indices also rose between 0.3% and 1.7%. However, NIFTY Auto, IT, Bank and Financial Services indices closed lower during the session. Broader markets outperformed their larger peers as the NIFTY Midcap 100 index advanced 0.8% and NIFTY Smallcap 100 index advanced 0.31%. The overall market breadth was positive with 1,962 shares ending higher while 1,303 closed lower on the NSE.
Several individual stocks delivered strong performances during the session. Berger Paints emerged as a standout performer, rising as much as 9.27% to ₹533.35 per share after posting a 27.75% rise in consolidated profit after tax to ₹334.77 crore for the March quarter of FY26. As reported by The Economic Times, the company's revenue from operations climbed 6.06% to ₹2,868.03 crore in Q4 FY26, compared to ₹2,704.03 crore in the same period of the previous fiscal year. Asian Paints was the top gainer in the NIFTY50 index, climbing 4.37% to close at ₹2,615, mirroring gains in other paint makers. Bharti Airtel, L&T, Dixon Tech, Adani Enterprises, Tata Steel, Hindalco, Bharat Electronics, Cipla, Adani Ports and JSW Steel also rose between 1.95% and 4.07%.
Despite the positive equity market performance, the rupee erased all morning gains to hit a fresh lifetime low during the trading session. According to ET Now reports, this currency weakness occurred despite government measures implemented to support the Indian currency. The divergence between equity market gains and currency weakness highlights the complex dynamics affecting different asset classes in the current market environment, with the rupee hitting a new record low of 95.75 against the US dollar.
The government has implemented significant policy measures to address external economic pressures and conserve foreign exchange reserves. According to Finance Ministry sources, the revised customs duty structure increases import duty on gold and silver from 6% to 15%, while platinum imports now attract a customs duty of 15.4%, compared to the earlier 6.4%. As reported by The Economic Times, Finance Ministry sources stated this is a "carefully calibrated and proportionate intervention designed to encourage moderation, not a ban," with consumer choice and market flexibility remaining unaffected. The changes are aimed at ensuring greater clarity in trade classification and taxation of jewellery-related imports, while the government emphasizes that precious metals involve significant foreign exchange outflows with comparatively limited industrial linkages.
