Mumbai: Equity benchmark indices witnessed an extremely volatile session on Wednesday but managed to end positive.
The BSE S&P Sensex closed 162 points higher at 36,725 while the Nifty 50 edged higher by 47 points to 10,845.
At the National Stock Exchange (NSE), sectoral indices were mixed. Nifty metal gained by 1.6 per cent, financial services by 1.03 per cent and PSU bank by 0.93 per cent. But auto declined by 1.68 per cent and FMCG, pharma along with realty slipped marginally.
Traders said the market could be largely driven by global trends in near-term due to lack of major domestic triggers.
Among stocks, Tata Steel, Bharat Petroleum Corporation and Indian Oil gained by 2.8 per cent each. Dr Reddy's was up by 2.6 per cent, JSW Steel and Bharti Airtel by 2.4 per cent each and State Bank of India by 2.3 per cent. Mining major Vedanta, Hindalco, and UPL too showed gains of over 1.7 per cent.
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But Maruti Suzuki India fell by over 4 per cent after the company said it has decided to shut down passenger vehicle manufacturing plants for two days. The company declared September 7 and 9 as no production days at Gurugram and Manesar plants in Haryana.
Sun Pharmaceutical Industries dropped by 3 per cent to Rs 426 per share after reports said the Securities and Exchange Board of India (SEBI) has ordered a forensic audit against the company to look into allegations of financial irregularities and lapses in corporate governance standards.
Meanwhile, Asian stocks bounced led by Chinese markets after a report showed growth in the country's service sector accelerating despite broader economic headwinds.
Hong Kong's Hang Seng Index gained 3.9 per cent while South Korea's KOSPI added 1.16 per cent. Japan's Nikkei was up by 0.12 per cent and the Shanghai Composite Index moved up 0.93 per cent.
However, trade sentiment globally remained subdued after data showed the US manufacturing sector contracted in August for the first time since 2016. Worries lingered about a weakening global economy and escalating trade tensions between China and the United States -- the world two largest economies.
