MUMBAI– Indian equity markets ended higher on Wednesday, buoyed by optimism over a possible India–U.S. trade deal and strong global cues ahead of the U.S. Federal Reserve’s policy announcement.
The Sensex advanced 368.97 points, or 0.44 percent, to close at 84,977.13, while the Nifty gained 117.7 points, or 0.45 percent, to finish at 26,053.9.
Investor confidence was bolstered by reports suggesting that the U.S. President may soon finalize a trade agreement with India, a move expected to boost bilateral commerce and investment flows.
“The Nifty continues to encounter stiff resistance near the 26,050–26,100 zone, while support remains firm around 25,900–25,660. As long as the index holds above 25,800, the broader trend stays firmly bullish,” analysts said.
They added that “a decisive close above 26,100 could open the door for an extended rally toward 26,250–26,400, whereas a dip below 25,900 may trigger mild profit booking at higher levels.”
In the Sensex basket, NTPC, PowerGrid, Adani Ports, HCL Tech, and Tata Steel were among the top gainers, while Bharat Electronics, Mahindra & Mahindra, Maruti Suzuki, and Bajaj Finance declined.
Broader market indices also ended in the green. The NSE Midcap 100 index climbed 0.64 percent, and the Nifty Smallcap 100 gained 0.43 percent.
Among sectoral indices, Nifty Oil & Gas led with a rise of 2.12 percent, followed by gains in Energy, Metal, Media, Bank, Financial Services, IT, Pharma, FMCG, and Consumer Durables. Nifty Auto was the only sector to close in negative territory.
Market participants are now focused on the outcome of the Federal Reserve’s policy meeting, where a 25-basis-point rate cut is widely expected. Investors are also closely tracking the Fed’s commentary for clues on future rate actions, which could shape the near-term direction of global markets.
“Optimism over potential progress in India–U.S. trade talks further lifted sentiment,” analysts noted, adding that the Fed’s tone on future policy easing will likely determine the next leg of the rally. (Source: IANS)
