Indian equities dawned brightly on Wednesday, riding high on encouraging international cues. By 9:20 AM, the benchmark Sensex had surged 478 points or 0.58% to 82,751, mirroring the Nifty’s 147-point or 0.58% jump to 25,570. The positive opening hinted at a strong day ahead for investors.
The IT sector stole the spotlight, propelling the Nifty IT index to the forefront of gainers. A cascade of green arrows lit up other sectors too: Metal, Realty, Oil & Gas, PSE, Commodities, Services, Media, Defence, and Energy indices all posted advances, showcasing sectoral synergy.
Gains permeated across market caps. While large-caps set the pace, the Nifty Midcap 100 index added 235 points or 0.43% to hit 59,307. Similarly, the Nifty Smallcap 100 rose 98 points or 0.59% to 17,058, indicating robust participation from smaller players.
Sensex heavyweights like Tech Mahindra, HCL Tech, TCS, Power Grid, Indigo, Tata Steel, NTPC, L&T, Sun Pharma, Adani Ports, Bharti Airtel, ICICI Bank, and BEL fueled the ascent. Decliners were limited to the likes of SBI, Bajaj Finance, and Asian Paints.
Overall market sentiment leaned bullish, with more stocks rising than falling. This mirrored global positivity, as Asian bourses including Shanghai, Tokyo, Hong Kong, Bangkok, Jakarta, and Seoul traded higher. Wall Street’s green close on Tuesday further amplified the upbeat mood.
Analysts point to lighter FII selling as a key driver. FIIs net sold a modest Rs 102.53 crore Tuesday, contrasting sharply with DIIs’ aggressive buying of Rs 3,161.22 crore. This domestic support has stabilized the market.
In commodities, gold edged up 0.44% to $5,199/oz, while silver leaped over 2% to $89/oz. These movements suggest investors are diversifying amid equity strength. With eyes on upcoming data, the market’s early promise could evolve into a full-fledged rally.