The Indian benchmark indices closed with massive gains on Wednesday, as the Sensex closed at 85,599.60 rising over 1,012 points and the Nifty ended trade at 26,203.30 jumping more than 318 points at 3:30 PM.
In the 30-share BSE Sensex, among the top gainers were stocks such as Bajaj Finserv, Bajaj Finance, Reliance, Sun Pharmaceuticals and TMPV. Meanwhile, the laggards included Asian Paints and Bharti Airtel.
In the broader markets, the Nifty Smallcap 50 gained 1.58 per cent. Sectorally, the Nifty Metal index rose 2.06 per cent.
Previously, during the morning session, the BSE Sensex rang the opening bell near 84,800, soaring more than 200 points, while the NSE Nifty50 began the day above 25,950, jumping 67 points, around 9:15 AM.
Global Markets And Oil Prices
Asian markets traded higher on Wednesday, with South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng all in positive territory. US markets also ended higher on Tuesday, providing a supportive global backdrop for Indian equities at the start of trade.
Ponmudi R, CEO of Enrich Money, said the strength in global markets followed the latest US economic data, including September retail sales and producer price figures, which indicated easing demand and cooling inflation. This, he noted, has reinforced expectations of a potential rate cut in December.
Foreign Institutional Investors (FIIs) bought equities worth Rs 785.32 crore on Tuesday, while Domestic Institutional Investors (DIIs) purchased stocks worth Rs 3,912.47 crore, according to exchange data. Brent crude, the global oil benchmark, inched up 0.35 per cent to $62.70 per barrel.
Markets On November 25
In the previous session on Tuesday, investor sentiment remained subdued as both benchmarks ended lower for the third consecutive day. The decline was driven by weakness in IT and auto stocks, along with continued foreign fund outflows, which dampened overall mood.
The Sensex fell over 300 points to close at 84,587.01, with 24 of its 30 components finishing in the red. The Nifty also declined, slipping 74.70 points to 25,884.80. Across three sessions since Friday, the Nifty has lost 307 points, more than 1 per cent, dropping below the 26,000 mark. Over the same period, the Sensex has shed 1,045 points, or 1.2 per cent.
Vinod Nair, Head of Research at Geojit Financial Services, said trade remained volatile on the day of monthly expiry as the market dealt with a weakening rupee and ongoing FII outflows. He added that investors stayed cautious while awaiting clarity on a possible rate cut in the upcoming FOMC meeting and developments on the Indo-US trade deal, despite some signs of improvement.
