MUMBAI — Indian equity markets advanced on Wednesday, buoyed by positive global cues and growing optimism over a potential trade deal between India and the United States, as well as investor confidence ahead of the U.S. Federal Reserve’s policy decision.
The benchmark Sensex climbed 368.97 points, or 0.44 percent, to close at 84,977.13, while the Nifty gained 117.7 points, or 0.45 percent, to settle at 26,053.9.
“The Nifty continues to face resistance around the 26,050–26,100 zone, while support remains firm between 25,900 and 25,660. As long as the index holds above 25,800, the broader trend remains bullish,” market analysts said. “A close above 26,100 could pave the way for a rally toward 26,250–26,400, whereas a dip below 25,900 might trigger mild profit booking.”
Among the Sensex constituents, NTPC, PowerGrid, Adani Ports, HCL Technologies, and Tata Steel emerged as the top gainers. Bharat Electronics, Mahindra & Mahindra, Maruti Suzuki, and Bajaj Finance were among the major laggards.
Broader indices also ended higher, with the NSE Midcap 100 index rising 0.64 percent and the Nifty Smallcap 100 index gaining 0.43 percent.
Sectorally, Nifty Oil & Gas led the rally with a 2.12 percent gain. Indices tracking Energy, Metal, Media, Banking, Financial Services, IT, Pharma, FMCG, and Consumer Durables also ended in positive territory. Nifty Auto was the only major sectoral index to close in the red.
Investor sentiment strengthened further following reports that the U.S. President may soon finalize a long-awaited trade agreement with India. Market experts said expectations of progress on the trade front added to the upbeat mood.
“The optimism surrounding potential India–U.S. trade developments provided additional support to the markets,” analysts noted. “The upcoming Federal Reserve policy decision remains a crucial event for global investors. While a 25-basis-point rate cut is largely expected, market participants will closely analyze the Fed’s commentary for indications of future easing.”
Traders now await policy signals from Washington and any announcements related to the India–U.S. trade negotiations, which could set the tone for market direction in the coming sessions. (Source: IANS)
