Mumbai–Indian stocks ended sharply higher Wednesday, with benchmark indices lifted by strong buying in information technology, consumer goods and metal shares.
The Sensex jumped 889 points, or 1.16 percent, to close at 77,654.60. The Nifty gained 265 points, or 1.10 percent, to finish at 24,250.20.
The rally extended to the broader market, with the Nifty MidCap index rising 0.82 percent and the Nifty SmallCap index gaining 1.48 percent.
Hindustan Unilever and Infosys were among the biggest contributors to the benchmarks’ gains. Trent and Tata Steel were also among the top performers on the Sensex.
Mahindra & Mahindra, Power Grid and NTPC were among the session’s major laggards.
Sectorally, the Nifty IT, Nifty Metal and Nifty FMCG indices led the advance as investors bought technology, consumer goods and metal stocks. The Nifty Realty and Nifty Auto indices posted more modest gains.
Market analysts said strong corporate earnings, continued buying in technology shares and a firmer rupee helped improve investor sentiment. The gains came despite weakness in other Asian markets amid an artificial intelligence-driven technology selloff and elevated tensions in the Middle East that kept crude oil prices near recent highs.
From a technical perspective, analysts identified the 24,300 to 24,400 range as the Nifty’s immediate resistance zone. The range also coincides with the index’s 200-day exponential moving average.
“A decisive close above this region would confirm a bullish breakout and could pave the way for an advance towards the 24,400–24,500 zone,” a market expert said.
Analysts said heavy call open interest near 24,300 could make the 24,300 to 24,400 range a key hurdle, though the near-term technical outlook has turned bullish. (Source: IANS)
