Jan 22 Reuters India39;s benchmark indexes ended strongly on Wednesday, boosted by gains in HDFC Bank after its quarterly results, after having spent the day struggling due to worries about earnings moderation and U.S. trade policy.
The Nifty 50 rose 0.57 to finish at 23,155.35, while the BSE Sensex added 0.75 to close at 76,404.99. The indexes opened higher before treading water for most of the day.
That changed in the last hour once HDFC Bank, the heaviest stock on the indexes, rose about 1.5 after posting a thirdquarter profit that was largely in line with market estimates.
Still, relentless selling by foreign investors, worries over corporate earnings and uncertainty over U.S. President Donald Trump39;s tariff policies have heightened risk aversion in the markets, said Jaykrishna Gandhi, an analyst at Emkay Global.
Foreign portfolio investors FPI have sold Indian stocks and bonds worth 7 billion in January so far.
IT stocks gained 2.1. Analysts said that was after Trump laid out plans for AI infrastructure investments and due to the IT sector39;s relatively lower stock valuations.
IT firms, which earn a major share of their revenue from the U.S., dropped 1.2 in the previous session amid a broader market slide due to uncertainty over Trump39;s tariff plans.
Those fears persisted on the day, with eight of the other 12 major sectors finishing lower.
The broader, more domesticallyfocused smallcaps and midcaps dropped about 1.6 and 1.3, respectively, with analysts…