Mumbai— Indian equity markets extended their winning streak for the third consecutive session on Wednesday, led by strong gains in financial stocks—particularly private banks—and select oil and gas shares.
The Sensex opened 262 points higher at 76,996 but briefly turned negative, dipping to a low of 76,544 amid weak global cues due to escalating U.S.-China trade tensions. However, the index rebounded sharply, rising 556 points from the day’s low to hit a high of 77,110, before closing at 77,044—up 309 points or 0.4%.
With this, the Sensex has added 3,197 points over the past three sessions.
The Nifty followed a similar trajectory, slipping to an intraday low of 23,273 before recovering to end near its high at 23,433—up 104.6 points or 0.45%. The benchmark index has gained 1,038 points in the last three sessions.
Top Nifty gainers included IndusInd Bank, Axis Bank, Trent, ONGC, and Asian Paints. Among the laggards were Maruti Suzuki, Bajaj Finance, and Tata Motors.
Sectorally, all indices except auto closed in the green. Media, PSU banks, and oil & gas stocks led the rally with gains of 1–2%. The broader markets also performed well, with both BSE Midcap and Smallcap indices advancing 0.5%.
Meanwhile, Asian markets remained under pressure as U.S. President Donald Trump’s threat to impose tariffs of up to 245% on Chinese imports weighed on investor sentiment. The Hang Seng and Taiwan indices fell nearly 2%, while South Korea’s Kospi and Japan’s Nikkei declined over 1%.
“On the daily chart, the Nifty closed above the 100-day EMA for the second session in a row,” said Rupak De of LKP Securities. “As long as the index remains above 23,300, the sentiment is expected to stay positive.”
In currency markets, the Indian rupee appreciated for the third straight day. Dilip Parmar of HDFC Securities attributed the strength to robust foreign inflows, a weaker U.S. dollar, and positive domestic economic indicators. He expects a bearish outlook for the USD-INR pair in the near term, with support around 85.40 and resistance near 86.05. (Source: IANS)
