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HomeMarket NewsStocks end mixed as gains in IT, oil & gas stocks offset midcap losses
The blue-chip NSE Nifty 50 index rose 0.15% to close at 25,141.15, while the S&P BSE Sensex added 123 points, or 0.15%, to end at 82,515.27. However, the Nifty Midcap 100 index declined 0.49% to 59,388.25, with the market breadth still favoring advances despite a negative close for midcaps.
Indian equities ended mixed on Wednesday, with benchmark indices extending their winning streak to a sixth straight session, supported by gains in information technology and oil & gas stocks, even as broader market indices, particularly midcaps, underperformed.
The blue-chip NSE Nifty 50 index rose 0.15% to close at 25,141.15, while the S&P BSE Sensex added 123 points, or 0.15%, to end at 82,515.27. However, the Nifty Midcap 100 index declined 0.49% to 59,388.25, with the market breadth still favoring advances despite a negative close for midcaps.
Financials were the key drag, with the Nifty Bank index shedding 169 points, or 0.3%, to close at 56,460. Weakness in key lenders capped overall market gains, though selective buying in defensives and export-oriented stocks offered some cushion.
Information technology stocks continued to find favor, with the Nifty IT index rising 1%, supported by a 2% gain in Wipro, which saw a 2% equity stake change hands in block deals. Oil & gas shares also advanced, with the sectoral index climbing 1.4%, amid positive sentiment following a forecast by the U.S. Energy Information Administration (EIA) projecting Brent crude prices to fall to $59 per barrel by 2026. Oil marketing companies (OMCs) surged 3–4% on the outlook.
Among individual movers, Oil India jumped 7% after a brokerage note projected up to 80% earnings growth over the next three years. Liquor maker United Spirits Ltd (USL) tumbled 7% after the Maharashtra government raised excise duty on alcohol. In contrast, wine producer Sula Vineyards rallied 8% as wine was exempted from the same hike.
In the midcap space, Indian Energy Exchange (IEX) was the top loser, plunging 8% on media reports concerning potential market coupling in the power trading segment. BSE Ltd fell 4% amid concerns over declining trading volumes in recent sessions.
Aditya Birla Capital gained over 1% following a block deal in which 1% equity changed hands. Meanwhile, the broader market saw some buying interest despite volatility, as investors selectively rotated positions amid sectoral shifts.
