Indian stock markets edged higher in midday trading on Wednesday, with the Sensex up 66.46 points or 0.08 per cent at 81,987.75 and the Nifty rising 20.75 points or 0.08 per cent to 25,061.85. The gains were led by auto and finance stocks, while oil and gas companies faced selling pressure.

Bajaj Auto emerged as the top gainer on the NSE, surging 3.91 per cent. The company also hit a 52-week high, climbing 4.21 per cent. Other major gainers included Bajaj Finance (2.46 per cent), Asian Paints (2.42 per cent), Hindustan Unilever (1.43 per cent), and Bajaj Finserv (1.40 per cent).

On the flip side, Tata Motors saw the steepest decline, dropping 5.15 per cent. ONGC fell 3.03 per cent, followed by BPCL (-1.69 per cent), Hindalco (-1.34 per cent), and ICICI Bank (-0.53 per cent).

The oil and gas sector faced significant pressure, with OIL down 4.67 per cent, ONGC declining 2.93 per cent, IOC falling 1.93 per cent, and Mahanagar Gas slipping 1.82 per cent.

Several stocks hit their 52-week highs on the NSE, including Archidply Decor (20 per cent), Zaggle (11.36 per cent), Shoppers Stop (10.49 per cent), and Century Textiles (5.96 per cent).

Market breadth remained positive, with 1,961 stocks advancing and 1,903 declining on the BSE. A total of 281 stocks hit 52-week highs, while 25 touched 52-week lows. The number of stocks in the upper circuit stood at 315, compared to 214 in the lower circuit.

Shrey Jain, Founder and CEO of SAS Online, commented on the market situation: “Indian markets are trading within a narrow range. Yesterday, the Nifty managed to close above the 25,000 level, buoyed by continued buying in IT stocks. We expect this trend to continue, with the Nifty potentially advancing towards the 25,200 mark.”

He added, “On the downside, the 25,000 level is anticipated to serve as support. For today’s weekly expiry, we anticipate Bank Nifty to trade within the 51,000 to 51,500 range, with a generally positive outlook.”

Investors are closely watching upcoming U.S. inflation data, which may influence the Federal Reserve’s next rate decision. The market remains cautiously optimistic as it navigates through mixed global cues and sector-specific movements.

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