The Indian equity indexes ended mostly flat on Wednesday after a range-bound session, with broad market indexes showing mixed performance.

Nifty gained strength from the IT sector, with TCS, HCLTech, Infosys, and Tech Mahindra leading the performance. However, the Pharma sector weighed on the index, pulling it lower.

India’s VIX dropped over 4%, settling around the 15.5 level.

Mining stocks faced pressure after the Supreme Court upheld states’ rights to tax minerals, leading to a 2% drop for Tata Steel. Apollo Hospitals fell 4% from its highs due to concerns over potential margin dilution from new investors.

Hero MotoCorp dropped 3% after Q1 results missed estimates. Kotak Securities’ sell call on Divi’s Laboratories made it the top Nifty loser, down 4%. Suzlon Energy hit a 5% lower circuit limit, ending its five-day winning streak.

Despite strong Q1 earnings, Manappuram Finance fell over 2%. Vodafone Idea gained 2% after reversing yesterday’s losses post-Q1 results. 

Mazagon Dock jumped 3% on strong Q1 earnings, while HAL closed near its day’s low after missing street estimates for Q1.

The top Nifty gainers were TCS, HCL Technologies, Infosys, Tech Mahindra, and BPCL, while Divi’s Labs, Hero MotoCorp, Coal India, ONGC, and UltraTech Cement were among the losers.

At close, Sensex gained 149.85 points (0.19%) to reach 79,105.88, while Nifty rose 4.75 points (0.02%) to settle at 24,143.75. Around 1,248 shares advanced, 2,140 declined, and 91 remained unchanged.

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