Sensex, Nifty Rise for Second Session on Lower Oil Prices, Global Optimism
MUMBAI — Indian stock markets closed higher for a second consecutive session on Wednesday, supported by easing oil prices and positive global cues that lifted investor sentiment.
Benchmark indices posted strong gains, with the Nifty climbing 392.70 points, or 1.72 percent, to close at 23,306.45. The Sensex rose 1,205 points, or 1.63 percent, to settle at 75,273.45.
Markets were buoyed by signs of improving geopolitical conditions after U.S. President Donald Trump said efforts were ongoing to end the conflict in the Middle East.
“Going ahead, 23300–23350 remains a critical zone. Sustaining above this range could provide short-term stability, while failure to hold may invite renewed selling pressure,” a market expert said.
“On the upside, 23500–23600 continues to act as a strong supply zone, followed by 23800. On the downside, 23000 remains a crucial support backed by strong demand and OI build-up, with 22900 as the next support in case of weakness,” an analyst added.
Among Sensex stocks, Tech Mahindra, Power Grid, and TCS were the main laggards. On the other hand, Bajaj Finance, Titan, IndiGo, Trent, and Mahindra & Mahindra were among the top gainers.
Broader markets outperformed the benchmarks, with the Nifty MidCap index rising 2.30 percent and the SmallCap index advancing 2.59 percent.
Sector-wise, consumer-focused stocks led the rally, with the Nifty Consumer Durables index emerging as the top gainer. Real estate and public sector banking stocks also recorded strong gains during the session.
However, the IT sector lagged behind, with the Nifty IT index ending lower compared to other sectors.
Analysts said the rally was largely driven by hopes of easing geopolitical tensions and softer crude prices, which boosted confidence across the market.
“The primary trigger for improved sentiment was emerging signals of a potential pause in the ongoing US-Iran conflict,” a market expert said. (Source: IANS)
