Indian benchmark indices ended slightly higher on Wednesday, snapping a four-day losing streak, as measures to support the rupee and selective buying helped lift sentiment.
The BSE Sensex rose 49.74 points, or 0.1%, to close at 74,608.98, while the NSE Nifty 50 gained 33.05 points, or 0.1%, to settle at 23,412.60.
Sentiment improved after India raised import duties on gold and silver to curb demand for the precious metals and ease pressure on foreign exchange reserves.
However, gains remained limited as investors continued to monitor rising tensions in the Middle East and the possibility of prolonged disruption around the Strait of Hormuz, which could tighten global oil supplies.
Among stocks, Hindustan Petroleum Corporation (NSE:HINDPETRO, BOM:500104) surged nearly 6% after reporting a sharp rise in Q4 profit to 60.7 billion rupees from 34.2 billion rupees a year earlier. Revenue from operations also increased to 1.232 trillion rupees from 1.179 trillion rupees.
Ceigall India (NSE:CEIGALL, BOM:544223) slipped nearly 1% after securing a 1.25 billion rupee order from Punjab State Power Corporation for a battery energy storage system project, according to a filing.