Sensex climbs 130 to 77,185 as Nifty edges above 24,078
After a rough start to the week, the Sensex climbed 130 points to close at 77,185 and the Nifty edged up to finish above 24,078 on Wednesday.
The early lift came from strong performances by PSU banks and softer US inflation numbers, which made investors hopeful that US rate hikes might slow down.
U.S.-Iran tensions, oil weigh Indian markets
Despite the positive start, markets lost some steam later in the day thanks to rising U.S.-Iran tensions, profit-taking moves, and higher oil prices.
Bank Nifty crossed 58,000 with big boosts from PSU banks; UltraTech Cement and Shriram Finance were among top gainers, while Power Grid and Infosys slipped.
Meanwhile, the rupee dipped 16 paise to close at 96.32 against the dollar due to geopolitical risks and expensive crude oil, even as gains in Indian shares helped limit losses.