The Indian market closed in the green after a volatile session on November 4, supported by metal and PSU banking names. The Sensex ended 113.95 points, or 0.19 percent, higher at 60,950.36, and the Nifty was up 64.50 points, or 0.36 percent, at 18,117.20. The market opened flat following mixed global cues and soon slipped into negative territory but buying in metal and PSU banks helped the indices close higher.

“The Bank of England in its policy announcement mirrored the Fed’s view, dashing hopes for a near-term policy softening. Though a late rebound was seen in the domestic market, it was largely in the red zone as the pharma and IT sell-off continued due to concerns about the impending recession,” said Vinod Nair, Head of Research at Geojit Financial Services. The dollar and the US treasury yield surged following the hawkish remarks from global central banks, even as foreign institutional investors (FIIs) continued their domestic support, he added.

Adani Enterprises, Hindalco Industries, Bajaj Finserv, Adani Ports and JSW Steel were among the top Nifty gainers. Hero MotoCorp, Dr Reddy’s Laboratories, BPCL, Cipla and HDFC Life were among the biggest losers. Among sectors, the Nifty Metal index rose 4 percent and the PSU bank index gained 1 percent. The Pharma index closed a percent lower from the previous day. The BSE midcap index ended on a flat note, while the smallcap index was up 0.4 percent. On the BSE, the metal index added nearly 3 percent and capital goods and oil & gas indices up 0.5 percent each. Selling was seen in the FMCG, healthcare and information technology stocks.

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