Mumbai, Dec 4 (NationPress) The domestic benchmark equity indices concluded the trading session on a positive note on Wednesday, supported by significant buying in PSU bank and realty sectors. Investors are closely observing the Reserve Bank of India (RBI) monetary policy committee (MPC) meeting, scheduled for Friday, where a critical decision regarding the repo rate will be revealed.

Banking stocks experienced gains amidst a turbulent market environment, influenced by the potential for a Cash Reserve Ratio (CRR) reduction by the central bank. The Sensex closed at 80,956.3, gaining 110.58 points, or 0.14 percent, while the Nifty finished at 24,467.45, an increase of 10.30 points, or 0.04 percent.

Expectations surrounding a possible CRR cut invigorated banking stocks, resulting in a rise of over 1 percent in the Bank Nifty index, with the PSU Banking Index outperforming its private sector equivalent as investors grew more optimistic ahead of the RBI's monetary policy announcement.

In broader market movements, the Nifty Midcap 100 concluded at 58,112.40, an increase of 603.40 points, or 1.05 percent, while the Nifty SmallCap 100 wrapped up at 19,173.55, rising by 170 points, or 0.89 percent.

Market analysts noted that the domestic market retained a positive trend, despite some volatility caused by mixed sentiments in Asian markets, particularly due to developments in South Korea.

"Broader indices exhibited robust performance, with the banking and financial sectors continuing to shine. In contrast, auto stocks faced pressure from mixed November sales figures. The forthcoming address by the FED Chair could impact market sentiments, especially as recent FED minutes indicated confidence in inflation easing," they remarked.

Sector-wise, the Nifty PSU Bank, Realty, Financial Service, IT, Media, Private Bank, and PSE ended positively, while the Nifty Auto, Pharma, FMCG, Metal, Energy, and Infra sectors closed in the red.

Within the Sensex constituents, HDFC Bank, NTPC, Bajaj Finserv, Titan, TCS, Tech Mahindra, and Bajaj Finance emerged as the leading gainers, whereas Bharti Airtel, Tata Motors, Power Grid, Maruti, Reliance, and ITC faced declines.

On the Bombay Stock Exchange (BSE), 2,383 shares recorded gains, while 1,582 shares declined, with 105 shares remaining unchanged.

Rupak De from LKP Securities pointed out that the Nifty displayed choppy behavior throughout the day as investors approached the RBI's monetary policy announcement with caution.

“A decisive breakthrough above 24,700 could lead to a sustained upward momentum. On the other hand, a drop below 24,350 could dampen market sentiment,” he commented.