MUMBAI — Indian equity markets advanced for the third consecutive session this week, closing higher on Wednesday as sustained buying in IT, pharmaceutical, and automobile stocks boosted investor sentiment.
The benchmark Sensex gained 595.19 points, or 0.71 percent, to end at 84,466.51. The 30-share index opened sharply higher at 84,238.86, compared to the previous close of 83,871.32, and touched an intraday high of 84,652.01 amid strong buying in heavyweight IT and auto counters. The Nifty 50 also closed higher at 25,875.80, up 180.85 points, or 0.70 percent.
“Global equities rallied on renewed risk appetite, driven by optimism over the anticipated resolution of the U.S. government shutdown and growing expectations of early Fed rate cuts amid signs of a cooling U.S. labor market,” said Vinod Nair, Head of Research at Geojit Financial Services.
Emerging markets outperformed major global indices, reflecting improved investor confidence. Nair added that domestic fundamentals — including moderating CPI and WPI inflation, a strong GDP outlook, and healthy second-half FY26 earnings expectations — continue to underpin positive market momentum.
Among Sensex gainers were TCS, Adani Ports, Bharti Airtel, Infosys, and Sun Pharma. Meanwhile, Tata Steel and both divisions of Tata Motors — passenger and commercial vehicles — closed in the red.
Sectoral indices largely maintained their upward trend. Nifty IT rose 738 points (2.04 percent), Nifty Auto climbed 336 points (1.24 percent), Nifty Bank gained 136 points (0.23 percent), and Nifty Financial Services added 82 points (0.12 percent).
Broader markets mirrored the positive trend. The Nifty Smallcap 100 rose 149 points (0.82 percent), the Nifty Midcap 100 advanced 475 points (0.79 percent), and the Nifty 100 gained 160 points (0.61 percent).
On the currency front, the rupee slipped slightly by six paise to 88.62 against the U.S. dollar in a narrow trading session, with traders awaiting fresh economic data. The dollar index hovered around 99.60 with limited movement.
Analysts expect the rupee to remain range-bound between 88.40 and 88.85 as investors await the upcoming U.S. CPI report, which could offer new cues for the dollar’s trajectory and influence currency market direction. (Source: IANS)
