Sensex, Nifty Extend Gains For Fifth Day

(RTTNews) - Indian shares eked out modest gains on Wednesday, with underlying sentiment supported by the unexpected announcements relating to GST reforms and the recent progress in India-China ties.

There were mixed catalysts on the trade front. U.S. White House Press Secretary Karoline Leavitt said that U.S. President Donald Trump imposed tariffs on India to deter Russia from pursuing the Ukraine conflict.

Separately, U.S. Treasury Secretary Scott Bessent claimed some of the "richest families in India" are involved in the country's "unacceptable" "profiteering" from buying and reselling Russian crude, while reiterating plans to boost tariffs on the South Asian nation.

Elsewhere, India is welcome to export its products to Russia if it is facing trouble entering the U.S. market, a senior Russian diplomat said.

The benchmark BSE Sensex rose 213.45 points, or 0.26 percent, to 81,857.84 while the broader NSE Nifty index ended up 69.90 points, or 0.28 percent, at 25,050.55.

The BSE mid-cap and small-cap indexes rose 0.4 percent and 0.3 percent, respectively. The market breadth was strong on the BSE, with 2,347 shares rising while 1,718 shares declined and 170 shares closed unchanged.

Among the top gainers, Tech Mahindra, Tata Steel, NTPC, Hindustan Unilever, TCS and Infosys rallied 2-4 percent.

OnMobile Global lost 3.5 percent and Nazara Technologies slumped nearly 13 percent after the Union Cabinet approved a bill aimed at regulating the rapidly growing digital gaming sector and putting a stop to online betting.

Aurobindo Pharma declined 4 percent after it emerged as the frontrunner to acquire Prague-based generic drug maker Zentiva for $5-5.5 billion.