The Indian equity market ended in positive territory on Wednesday, led by strong gains in auto and financial stocks. Investor sentiment was buoyed by softer U.S. retail inflation data, which strengthened expectations of a U.S. Federal Reserve rate cut in September, while easing domestic price pressures also added to optimism.
The BSE Sensex climbed 304.32 points, or 0.38%, to settle at 80,565. The NSE Nifty 50 gained 0.54%, or 131.95 points, closing at 24,619.35. Broader market sentiment remained upbeat, with midcap stocks outperforming as investors bet on a recovery in discretionary spending.
Vinod Nair, Head of Research at Geojit Financial Services, said, “Indian equities experienced a broad-based optimism as CPI hit an eight-year low, boosting hopes for a revival in discretionary spending, led by autos and metals. Midcaps outperformed, reflecting strong investor appetite.” He added that global cues improved on the extension of China’s tariff deadline and easing oil prices, despite ongoing uncertainty around U.S. trade policy.
Global markets were also buoyant. On Wall Street, the S&P 500 and Nasdaq hit record highs, supported by gains in megacap companies amid rising expectations of a Fed policy easing cycle resumption next month. European shares rallied, with the Stoxx Europe 600 climbing 0.4% to its highest level since late July, led by technology and defence stocks.
Rupak De, Senior Technical Analyst at LKP Securities, noted that the Nifty sustained strength throughout the day, closing at a multi-day high. “With sentiment improving, the likelihood of the Nifty moving above the 24,700 resistance has increased. A decisive move above this level could trigger a rally towards 25,200 in the short term,” he said.
In value terms, PayTM (₹2,219 crore), Apollo Hospital (₹1,762 crore), JM Financial (₹1,683 crore), Infosys (₹1,473 crore), HDFC Bank (₹1,342 crore), BSE (₹1,329 crore) and ICICI Bank (₹1,280 crore) were among the most actively traded on the BSE. In volume terms, Vodafone Idea led with 47.03 crore shares traded, followed by Suzlon Energy (17.31 crore) and Ola Electric Mobility (10.66 crore).
Over 109 stocks touched their 52-week highs, while 104 hit 52-week lows. Heavy buying was seen in NMDC Steel, JM Financial, EIH, HBL Power, Apollo Hospital, Godrej Industries, and GSK Pharma. On the other hand, Coromandel International, PG Electroplast, Waaree Energies, SJVN, DB Realty, Suzlon Energy, and Oil India saw selling pressure.
On the BSE, out of 4,246 stocks traded, 2,230 advanced, 1,864 declined, and 152 remained unchanged, indicating a bullish undertone in the market.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Capital Mirror does not guarantee the accuracy or completeness of the information provided. Readers are advised to consult a qualified financial advisor before making investment decisions.
