MUMBAI– Indian equity markets closed sharply higher on Wednesday, buoyed by broad-based buying in key sectors including banking, financial services, automobiles, and healthcare. Positive global sentiment, particularly surrounding developments in the U.S.-Japan trade pact, further boosted investor confidence.
The BSE Sensex surged 539.83 points, or 0.66%, to end the session at 82,726.64. The 30-share index opened with a strong gap-up at 82,451.87, compared to the previous close of 82,186.81, and climbed to an intraday high of 82,786.43. Heavyweights such as Tata Motors, Bharti Airtel, and ICICI Bank led the rally.
The NSE Nifty 50 also posted solid gains, rising 159 points, or 0.63%, to close at 25,219.90.
Ashika Institutional Equities noted in its market commentary, “The day was characterized by robust performance across key sectors such as Banking, Financial Services, Automobiles, Healthcare, and Information Technology. However, weakness lingered in Realty, Media, Consumer Goods, and Metals, highlighting a sectorally bifurcated market landscape.”
Positive cues from global markets played a key role, with optimism around the U.S.-Japan trade deal sparking expectations for further international agreements and improved trade momentum.
Among the top Sensex gainers were Tata Motors, Bharti Airtel, Bajaj Finance, Maruti Suzuki, Bajaj Finserv, HDFC Bank, ICICI Bank, Eicher Motors, Asian Paints, and SBI. On the downside, Hindustan Unilever, Infosys, and Ultratech Cement ended in the red.
Within the Nifty 50 basket, 37 stocks advanced while 13 declined.
Sectorally, Nifty Bank rose 454 points (0.80%), Nifty Auto climbed 203 points (0.85%), and Nifty IT added 92.60 points (0.25%). In contrast, the Nifty FMCG index posted a decline.
The broader market also mirrored the upbeat trend. The Nifty Next 50 jumped 159 points, Nifty 100 rose 142 points (0.55%), and the Nifty Midcap 100 gained 203 points (0.34%). The Nifty Smallcap 100 ended flat.
On the currency front, the rupee remained range-bound, trading near 86.40 against the U.S. dollar with a marginal 0.01% movement. The dollar index hovered steady around 97.40 as markets awaited further signals ahead of the upcoming U.S. interest rate decision.
“Domestic capital markets gained 0.65% today, while Fed Chair Powell’s recent remarks kept the dollar steady. The market is now focused on next week’s U.S. rate decision, which could serve as a key trigger. We expect the rupee to trade within the 85.80–86.70 range,” said Jateen Trivedi of LKP Securities. (Source: IANS)
