Mumbai’s bustling stock exchanges kicked off Wednesday with optimism, marking the third consecutive session of green openings. The Sensex surged 65.23 points from its previous close of 84,273.92 to open at 84,339.15, while the Nifty climbed 62.3 points to 25,997.45 from 25,935.15. This positive start signals sustained investor confidence amid weekly trading.
By around 9:25 AM, the BSE Sensex had advanced further by 102 points or 0.1% to 84,374. The NSE Nifty mirrored the gains, up 44 points at 25,979. Broader indices showed mixed trends, with the BSE Midcap index dipping 0.2% and Smallcap edging up 0.1%.
Sector-wise performance highlighted the auto sector’s dominance, with Nifty Auto jumping 1.34%. Nifty FMCG saw a modest 0.18% rise, while Nifty IT fell 0.45% and Nifty Bank declined 0.28%. Standout gainers in the Sensex pack included Mahindra & Mahindra, Titan, Maruti Suzuki, Tata Steel, SBI, and Sun Pharma. Laggards were HCL Tech, Trent, TCS, Bharti Airtel, ITC, and Larsen & Toubro.
Akash Shah, Technical Research Analyst at Choice Broking, noted that the Nifty remains above its key short-term moving averages and has held firm above the 25,800-25,900 support zone. The immediate resistance is at 26,000. A decisive break above this could trigger short covering and extend the recovery. On the downside, 25,800 is the first support, followed by 25,700.
The market structure appears positive, though consolidation near resistance is likely. Experts anticipate range-bound trading with an upward bias, advising focus on auto, metals, banking, and strong-earnings stocks. Investors should remain cautious near the pivotal 26,000 level, prioritizing risk management.
This resilience comes as global cues stabilize and domestic factors support steady gains, setting the stage for potential further upside if key thresholds are breached.