Mumbai’s bustling stock market kicked off Wednesday with a robust gain, fueled by positive signals from global markets. At 9:20 AM, the Sensex climbed 478 points, or 0.58%, to 82,751, while the Nifty advanced 147 points, or 0.58%, to 25,570. This upbeat start set a promising tone for the trading session.
IT stocks led the charge in early trade, with the Nifty IT index emerging as the top performer. Almost every sectoral index followed suit, painting a green picture across the board. Nifty Metal, Realty, Oil & Gas, PSE, Commodities, Services, Media, India Defence, and Energy indices all traded positively, reflecting broad-based optimism.
Large-cap stocks spearheaded the rally, but mid-cap and small-cap segments weren’t far behind. The Nifty Midcap 100 index rose 235 points, or 0.43%, to 59,307, and the Nifty Smallcap 100 gained 98 points, or 0.59%, reaching 17,058. This widespread participation underscored the market’s resilience.
In the Sensex pack, standout gainers included Tech Mahindra, HCL Tech, TCS, Power Grid, Indigo, Tata Steel, NTPC, L&T, Sun Pharma, Adani Ports, Bharti Airtel, ICICI Bank, and BEL. On the flip side, SBI, Bajaj Finance, and Asian Paints lagged as minor losers.
Market breadth remained firmly positive, with advancing shares outnumbering decliners. This bullish sentiment echoed global trends, where Shanghai, Tokyo, Hong Kong, Bangkok, Jakarta, and Seoul opened higher. US markets had closed in the green on Tuesday, providing additional tailwinds.
Experts attribute the rally to reduced FII selling pressure. Foreign institutional investors offloaded just Rs 102.53 crore on Tuesday, while domestic institutional investors (DIIs) scooped up shares worth Rs 3,161.22 crore. This shift in buying dynamics has bolstered investor confidence.
Precious metals also shone bright. Gold rose 0.44% to $5,199 per ounce, and silver surged over 2% to $89 per ounce, signaling safe-haven demand amid the equity upswing. As the session progresses, traders will watch for sustained momentum and any emerging volatility.