Mumbai— Indian stock markets ended Wednesday on a positive note, led by gains in metal, real estate, and technology sectors, with defense stocks continuing their strong rally for the third consecutive session.
Despite some intra-day volatility, investor sentiment remained upbeat, helping benchmark indices finish in the green. The BSE Sensex rose 182 points, or 0.22%, to close at 81,330.56, while the NSE Nifty gained 88 points, or 0.36%, to settle at 24,666.
Defense stocks remained resilient, drawing sustained investor interest amid heightened geopolitical focus. Broader market indices outperformed, with the Nifty Midcap 100 up 1.13% and the Nifty Smallcap 100 advancing 1.36%, signaling strong interest in mid- and small-cap stocks.
Tata Steel led the Sensex gainers with a 3.88% rise, followed by Eternal (2.18%), Tech Mahindra (2.02%), and Maruti Suzuki (1.66%). On the downside, Asian Paints declined 1.78%, Tata Motors slipped 1.26%, and Kotak Mahindra Bank dropped 1.11%.
Options data indicated key resistance levels for Nifty at 25,000 and 25,500, with support around 24,000 and 24,500. The put-call ratio stood at 0.72, suggesting a mildly bearish undertone, according to Sundar Kewat of Ashika Institutional Equity.
Adding to the bullish momentum was data showing India’s retail inflation eased to a six-year low in April, driven largely by falling food prices. This has fueled expectations of a possible rate cut by the Reserve Bank of India.
Global cues were also supportive, with softer-than-expected U.S. inflation data lifting hopes of a more dovish stance from the Federal Reserve.
“The retreat in crude oil prices and a weaker dollar provided additional tailwinds, supporting the rupee during intraday trade,” said Dilip Parmar of HDFC Securities.
With domestic fundamentals and global signals aligned, analysts expect investor confidence to remain strong in the near term. (Source: IANS)
