Buoyed by encouraging international cues, India’s benchmark indices opened higher on Wednesday morning. By 9:18 AM, Sensex was up 306 points (0.40%) at 77,193, and Nifty surged 88 points (0.33%) to 24,085, signaling a confident start to the trading day.
The auto and defense sectors stole the spotlight, topping the gainers’ list with Nifty India Defence and Nifty Auto indices shining bright. Positive momentum spilled over to infrastructure, oil & gas, realty, FMCG, energy, and pharma sectors, all posting gains. Metals, financial services, and PSEs, however, bucked the trend with modest declines.
Gains weren’t confined to largecaps; small and midcap indices also participated enthusiastically. Nifty Smallcap 100 advanced 0.83% or 149 points to 18,125, while Nifty Midcap 100 rose 0.35% or 208 points to 60,628, underscoring widespread market optimism.
Sensex heavyweights like Maruti Suzuki, ITC, Tech Mahindra, Eternal, Bharti Airtel, UltraTech Cement, Infosys, BEL, Adani Ports, HUL, TCS, Trent, and SBI fueled the index’s ascent. Countering this were declines in Tata Steel, NTPC, ICICI Bank, Bajaj Finserv, Bajaj Finance, Axis Bank, Asian Paints, and HCL Tech.
Market analysts point to global developments, including UAE’s OPEC exit easing oil prices marginally, yet US-Iran geopolitical risks maintaining crude at about $110/barrel. The spotlight shifts to the Federal Reserve’s policy decision tonight, anticipated to influence global sentiment.
Most Asian bourses traded higher, including Shanghai, Hong Kong, Seoul, Jakarta, and Bangkok, while Japan observed a holiday closure. US stocks ended Tuesday on a subdued note, with Dow marginally down 0.05% and Nasdaq falling 0.90%.
With key global events unfolding, traders remain vigilant, but the strong sectoral performance in defense and autos suggests potential for further upside if broader cues align favorably.
