The Indian equity benchmarks kicked off Wednesday’s session with minimal movement, reflecting investor caution after recent volatility. By 9:20 AM, Sensex was up just 7 points at 83,458, and Nifty inched higher by 1 point to 25,724. Metal stocks stole the spotlight in early trade, propping up the indices against broader pressures.
Nifty Metal’s near 1% advance made it the day’s top sectoral performer, underscoring renewed interest in industrial plays. PSU Banks, Commodities, Financial Services, Defence, Healthcare, FMCG, Pharma, and Realty sectors followed suit with gains, creating a resilient base. IT, Energy, and Services, however, buckled under selling, highlighting sector-specific headwinds.
Smaller stocks showed greater resilience, with Nifty Midcap 100 advancing 0.29% or 172 points to 60,054, and Nifty Smallcap 100 up 0.35% or 59 points to 17,208. Largecaps trailed, as funds rotated into mid and smallcaps for potential alpha generation.
Sensex gainers were led by Tata Steel, BEL, ITC, SBI, Bajaj Finserv, Ultratech Cement, Bajaj Finance, M&M, Sun Pharma, Titan, Indigo, Eternal, Asian Paints, and Bharti Airtel. Losers included Infosys, Tech Mahindra, HCL Tech, ICICI Bank, HDFC Bank, TCS, Kotak Mahindra Bank, and NTPC, with banking heavyweights facing profit booking.
Analysts point to strong Q3 results and favorable international developments as key positivity drivers. Yet, AI hype continues to unsettle IT counters. Overseas, Asian markets were mixed with holiday closures in key centers; US indices ended positively overnight. Commodities stayed firm: WTI crude at $62.38 (+0.19%), Brent at $67.60 (+0.28%), gold at $4,938 (+0.66%), and silver at $74.54. Investors remain vigilant for FII flows and upcoming data releases.