MUMBAI– Indian equities closed higher for a third straight session on Wednesday, with strong buying in information technology and fast-moving consumer goods lifting the markets despite pressure on banking and financial stocks.
The Sensex ended the day at 81,857.84, up 213.45 points, or 0.26 percent. The 30-share index opened slightly firmer at 81,671.47 compared to the previous close of 81,644.39 and remained largely rangebound through the session. The Nifty 50 closed at 25,050.55, advancing 69.90 points, or 0.28 percent.
Analysts said sentiment improved after China, India’s largest trading partner, held its key interest rate steady, signaling policy stability with potential trade benefits for India.
Top performers on the Sensex included Infosys, TCS, Hindustan Unilever, NTPC, Tech Mahindra, Tata Steel, HCL Tech, Bharti Airtel, Mahindra & Mahindra, Titan, and Eternal. Among the laggards were BEL, Bajaj Finance, Tata Motors, Trent, Bajaj Finserv, and ITC.
“The Indian market sustained its positive momentum, supported by strong domestic inflows and favorable macro tailwinds,” said Vinod Nair, Head of Research at Geojit Investments. “However, rich valuations and external risks, particularly U.S. tariffs and sanctions on Russian crude, continue to pose challenges.”
Sectoral indices were mixed, with Nifty IT climbing 933 points or 2.69 percent and Nifty FMCG gaining 777 points or 1.39 percent. Nifty Auto posted a small advance, while Bank Nifty and Nifty Financial Services slipped into negative territory.
Broader markets extended the uptrend, with Nifty Next 50 rising 256 points or 0.38 percent, Nifty 100 up 76 points or 0.30 percent, Nifty Midcap 100 gaining 265.85 points or 0.46 percent, and Nifty Small Cap 100 advancing 54 points or 0.46 percent.
Meanwhile, the rupee traded flat at 87.02 against the dollar, with the U.S. dollar index steady at 98.25. Investors are now awaiting U.S. Federal Reserve Chair Jerome Powell’s speech on Friday for fresh cues.
“Recent tariff developments kept volatility elevated, though sentiment found some stability after Prime Minister Modi’s Independence Day announcement on GST reduction before Diwali,” said Jateen Trivedi of LKP Securities. He added that the rupee faces strong resistance near 86.80, with support in the 87.60–87.80 range, suggesting a near-term consolidation. (Source: IANS)
