Mumbai– Indian equity markets closed higher on Wednesday, buoyed by strong performances in the metal, real estate, and technology sectors. Notably, defense stocks extended their winning streak for a third consecutive session, demonstrating sustained investor interest and resilience.
Despite intraday volatility, positive sentiment prevailed throughout the session, helping benchmark indices finish in the green.
At the close, the BSE Sensex rose 182 points, or 0.22%, to settle at 81,330.56. The NSE Nifty also gained 88 points, or 0.36%, ending the day at 24,666.
Analysts noted that key options data pointed to resistance levels for Nifty at 25,000 and 25,500, with support seen around 24,000 and 24,500. The put-call ratio (PCR) stood at 0.72, indicating a slightly bearish bias, according to Sundar Kewat of Ashika Institutional Equity.
On the Sensex, Tata Steel led the gainers with a 3.88% jump, followed by Eternal (2.18%), Tech Mahindra (2.02%), and Maruti Suzuki India (1.66%).
Among the laggards, Asian Paints was the top loser, falling 1.78% to close at ₹2,283.65. Tata Motors slipped 1.26%, while Kotak Mahindra Bank shed 1.11%.
Broader markets outperformed the benchmarks, with the Nifty Midcap 100 rising 1.13% and the Nifty Smallcap 100 advancing 1.36%, underscoring strong interest in mid- and small-cap stocks.
Adding to the bullish sentiment was the latest consumer price data, which showed India’s retail inflation easing to its slowest pace in over six years in April—largely due to a drop in food prices. The data has strengthened hopes of a potential rate cut by the Reserve Bank of India (RBI).
Global cues were also favorable, as softer-than-expected U.S. inflation figures boosted expectations of a dovish shift in Federal Reserve policy.
“The retreat in crude oil prices and the overall softening of the U.S. dollar acted as tailwinds, providing support to the Indian rupee during intraday trading,” said Dilip Parmar of HDFC Securities.
With domestic fundamentals and global indicators aligning positively, analysts believe market sentiment is likely to remain upbeat in the near term. (Source: IANS)
