Mumbai– Indian stock markets ended higher on Wednesday, lifted by positive global cues and a decline in crude oil prices. Buying interest in realty, PSU bank, and metal stocks added further strength to investor sentiment.
The Sensex climbed 575.45 points, or 0.70 percent, to close at 82,605.43, while the Nifty rose 178.05 points, or 0.71 percent, to settle at 25,323.55.
“The Nifty opened on a firm note and maintained a higher-high, higher-low structure throughout the session, signaling sustained bullish momentum,” market analysts said. “After an early upmove, Nifty entered a tight consolidation between 25,280–25,330, spending most of the day oscillating within the 25,300–25,400 range for the third straight session.”
They added that the pattern indicates a short-term distribution phase, with consistent selling pressure near the 25,400 resistance zone. “A decisive breakout above this level could trigger a rally toward 25,600–26,000, supported by encouraging Q2 earnings momentum,” they noted.
Broader markets outperformed the benchmarks, with the Nifty MidCap 100 index gaining 1.11 percent and the Nifty SmallCap 100 index rising 0.82 percent.
Sectorally, except for Nifty Media, all indices ended in the green. The Nifty Realty index led the rally with a 3.04 percent surge, followed by PSU Bank, Metal, and Financial Services indices, each advancing over 1 percent.
Among the Sensex constituents, Bajaj Finance, Bajaj Finserv, Trent, Asian Paints, Adani Ports, and Tata Steel were the top performers. Infosys, Tata Motors, Tech Mahindra, and Axis Bank, however, closed in the red, trimming some of the market’s gains.
Analysts attributed the rally to easing crude prices and supportive global markets, which improved investor confidence. A decline in U.S. 10-year Treasury yields and a stronger rupee also hinted at renewed foreign institutional interest in emerging markets such as India.
“Realty outperformed due to easing interest rates and attractive valuations, while positive global cues supported gains in the IT and Metal sectors,” market experts added. (Source: IANS)
