India-EU FTA boost keeps bulls in play

Mumbai: Indian equity benchmark indices Sensex and Nifty ended Wednesday’s session with modest gains, managing to stay in the green despite sharp volatility through the day.

Investor sentiment was influenced by December-quarter earnings announcements and the finalisation of the India–European Union Free Trade Agreement. The Sensex closed at 82,345, rising 487 points, or 0.60 per cent. During the session, the index moved between a high of 82,504 and a low of 81,815 as markets swung between gains and losses. The Nifty also posted a positive close, ending the day at 25,343, up 167 points, or 0.66 per cent. The index touched an intra-day high of 25,372 and slipped to a low of 25,188 before recovering towards the close. “While the index continues to trade below its short-term moving averages -- indicating near-term caution -- immediate resistance is seen at 25,400–25,450, followed by a stronger supply zone at 25,600–25,650, aligned with the 20/50-EMA cluster,” an analyst mentioned.