Indian equity benchmarks wrapped up Wednesday’s session on a high note, driven by strong investments in consumer, energy, and oil & gas sectors. The Sensex added a modest 78.56 points (0.09%) to finish at 83,817.69, and the Nifty rose 48.45 points (0.19%) to 25,776, reflecting cautious optimism among traders.
Gainers dominated key sectoral indices. Nifty Consumer Durables led with a sharp 2.66% rise, trailed by Oil & Gas (2.08%), Energy (2%), Commodities (1.90%), PSE (1.60%), Infrastructure (1.57%), and Consumption (1.41%). This buying spree underscored renewed interest in cyclical sectors.
Technology stocks, however, faced headwinds, with Nifty IT slumping 5.87%. Other underperformers included Nifty India Defence (-0.77%), Services (-0.42%), and Pharma (-0.34%).
Smaller stocks stole the show, as Nifty Midcap 100 jumped 0.63% to 59,683.60 (up 376.50 points), and Nifty Smallcap 100 soared 1.27% to 17,205.10 (up 216.15 points), outpacing largecaps.
Sensex heavyweights like Eternal, Trent, NTPC, Adani Ports, Power Grid, Maruti Suzuki, Titan, UltraTech Cement, Bharti Airtel, ICICI Bank, M&M, L&T, Tata Steel, ITC, and HDFC Bank posted gains. Losers were led by IT majors Infosys, TCS, HCL Tech, Tech Mahindra, alongside Axis Bank and Kotak Mahindra Bank.
According to Sudeep Shah from SBI Securities, the Nifty’s weak start gave way to range-bound trading, culminating in a positive close at 25,776 (up 0.19%). He pointed to heavy IT selling triggered by Anthropic’s new legal tool for its AI chatbot, which could heighten software sector rivalry.
Shah outlined key technical levels: resistance at 25,950-26,000, with potential upside to 26,200 on a breakout. Downside support is at 25,600-25,550. As markets navigate these thresholds, focus shifts to upcoming economic data and global trends for directional cues.
