MUMBAI– Indian equities closed higher for the third consecutive session on Wednesday, lifted by strong buying in IT and FMCG stocks despite weakness in banking and financial counters. The Sensex climbed 213.45 points, or 0.26 percent, to settle at 81,857.84, while the Nifty advanced 69.90 points, or 0.28 percent, to finish at 25,050.55.
The benchmark index opened slightly higher at 81,671.47, edging past the previous close of 81,644.39. Gains were largely fueled by IT majors Infosys, TCS, Tech Mahindra, HCL Tech, and FMCG heavyweight Hindustan Unilever, alongside NTPC, Tata Steel, Bharti Airtel, Mahindra & Mahindra, Titan, and Eternal. In contrast, Bajaj Finance, Bajaj FinServ, BEL, Tata Motors, Trent, and ITC ended in the red.
Market sentiment was supported by stable global cues after China, India’s largest trading partner, kept its key interest rate unchanged, signaling policy stability with potential trade benefits. “The Indian market sustained its positive momentum, supported by strong domestic inflows and favorable macro tailwinds. However, rich valuations and external risks, particularly U.S. tariffs and sanctions on Russian crude, continue to pose challenges,” said Vinod Nair, Head of Research at Geojit Investments.
Among sectoral indices, Nifty IT surged 2.69 percent, Nifty FMCG gained 1.39 percent, and Nifty Auto ended marginally positive. Banking and financial indices, however, closed lower. Broader indices mirrored the bullish trend, with Nifty Next 50 up 0.38 percent, Nifty 100 climbing 0.30 percent, Nifty Midcap 100 rising 0.46 percent, and Nifty Small Cap 100 advancing 0.46 percent.
The rupee traded flat at 87.02 against the dollar, as the dollar index held steady at 98.25. Market participants are awaiting Federal Reserve Chair Jerome Powell’s upcoming speech for fresh cues. “Recent tariff developments kept volatility elevated, though sentiment steadied after Prime Minister Modi’s Independence Day announcement on GST reduction before Diwali,” said Jateen Trivedi of LKP Securities, adding that the rupee remains range-bound with resistance at 86.80 and support between 87.60 and 87.80. (Source: IANS)
