Indian shares ended higher on Wednesday, led by IT stocks such as Tata Consultancy Services Ltd, as the technology index recovered to close 0.55 percent higher after losing 4.3 percent over the previous five sessions. The benchmark BSE index ended 0.29 percent higher at 35,319.35, closing above the 35,000 mark for the sixth time in seven sessions.
The broader NSE index ended 0.22 percent higher at 10,741.70. Oil marketing companies like Bharat Petroleum Corp and Hindustan Petroleum Corp ended down, after falling as much as 3.5 percent during the session, as global oil prices jumped US President Donald Trump withdrew from the Iran nuclear deal.
IT companies saw some recovery after the technology index lost 4.3 percent over the last five sessions. Tata Consultancy Services Ltd was among the top gainers on the index, up as much as 1.4 percent. Analysts expect markets to stay range-bound in the short term.
Domestic institutional investors bought shares worth a net 9.23 billion rupees ($137.01 million) on May 8. The benchmark 10-year bond yield rose as much 7.67 percent after the central bank revised the list of securities it plans to buy back from the market at its open market purchase of debt.
The partially convertible rupee hit its lowest level since February 7, 2017. Among gainers, Jubilant Foodworks Ltd rose 2.1 percent on bullish commentary by analysts after it said on Tuesday March-quarter profit grew over ten-fold. Hindalco Industries Ltd rose 4 percent after US-based unit Novelis Inc reported a 9 percent jump in quarterly adjusted EBITDA on Tuesday.
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