MUMBAI: Indian shares rose on Wednesday after four sessions of steep losses, led by gains in gold and silver ETFs after a hike in import tariffs, though high crude prices and persistent foreign outflows limited gains.
The Nifty 50 rose 0.14 percent to 23,412.60, while the BSE Sensex added 0.07 percent to 74,608.98.
Ten of the 16 major sectors logged gains. The small-caps and mid-caps rose 0.3 percent and 0.8 percent, respectively.
The Nifty and Sensex had lost about 4 percent each over the past four sessions as the US-Iran deadlock pushed crude prices higher and heightened concerns over the economic fallout from the conflict.
“Near-term market trajectory will be driven by oil, inflation trends and Iran war developments, while the environment and dip-buying reflects selective risk-taking than broad-based optimism,” said PL Capital.
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