Mumbai : Indian benchmark indices opened higher on Wednesday, buoyed by encouraging developments in India-US trade discussions and strong global cues.
US President Donald Trump’s initiative to enhance bilateral relations and Prime Minister Narendra Modi’s positive response provided a boost to investor sentiment.
The Sensex rose 334 points or 0.41% to 81,435 in early trade, while the Nifty gained 106 points or 0.43% to 24,975. Broad-market indices also saw strong gains, with the Nifty Midcap 100 up 0.73% and Nifty Smallcap 100 rising 0.71%.
Among Nifty stocks, Larsen & Toubro, Kotak Mahindra, Dr. Reddy’s Labs, and TCS led the gainers. The laggards included Hero Motocorp, Maruti Suzuki, Tata Steel, and Hindalco. Sectorally, Nifty IT led the rally with a 1.88% jump, followed by Nifty PSU Bank and Nifty Realty, while Nifty Auto and Nifty Consumer Durables remained in the red.
Market analysts noted that Nifty faced resistance near 24,900, forming a small green candle with a long lower shadow, indicating consolidation and intraday volatility. “Nifty has decisively surpassed its 5, 10, 20, and 50-day DMAs, signaling bullish short-term trends,” said Devarsh Vakil, Head of Prime Research at HDFC Securities. Analysts added that support lies at 24,620, and trading below 25,000 may see mild consolidation.
Global markets contributed to the optimism. Dow Jones rose 0.43%, Nasdaq 0.37%, and S&P 500 0.27%, driven by expectations of Federal Reserve rate cuts after weaker US job data. In Asia, Shanghai gained 0.17%, Shenzhen 0.24%, Nikkei 0.6%, Hang Seng 0.98%, and Kospi 1.55%.
Foreign Institutional Investors (FIIs) ended an 11-day selling streak by buying equities worth ₹2,050 crore on Tuesday, while Domestic Institutional Investors (DIIs) net purchased ₹83 crore, reinforcing market momentum.
Also Read : Sensex Nifty update: IT stocks lead rally, Nifty crosses 24,850
