Indian equity markets closed higher on Wednesday, supported by b domestic buying amid global diplomatic developments and stability in crude oil prices. The benchmark BSE Sensex ended at 78,111.24, up 1,263.67 points or 1.64%, while the NSE Nifty 50 closed at 24,231.30, gaining 388.65 points or 1.63%.
Market sentiment remained positive amid expectations of a second round of talks between the United States and Iran. The impact of these global cues was reflected across both the Bombay Stock Exchange and the National Stock Exchange.
The session opened with gains of around 1.5%. Earlier in the week, markets had recorded a sharp decline on Monday, while trading remained closed on Tuesday on account of Bhim Rao Ambedkar Jayanti.
Broad-based Buying Across Sectors
Buying interest was visible across nearly all sectors during the session. Of the 30 Sensex constituents, 28 stocks closed in positive territory, while only two recorded marginal declines. Similarly, 45 out of the 50 Nifty stocks ended higher, indicating broad-based market participation. According to analysts, expectations of progress in US-Iran negotiations and easing geopolitical tensions supported investor confidence.
Aviation and IT Stocks Advance
The aviation sector led gains, with InterGlobe Aviation (IndiGo) rising 4.63% and featuring among the top gainers, supported by b passenger demand and improved operational outlook.
Information technology stocks also recorded gains, with Tata Consultancy Services rising 3.31%, Infosys advancing 2.18%, and Tech Mahindra gaining more than 3%. The strength in the IT sector contributed to overall market support.
Buying in Reliance, Banking and Energy Stocks
Among blue-chip stocks, Reliance Industries gained 2.26%, while HDFC Bank advanced around 2%. ICICI Bank, however, closed marginally lower by 0.20%.
Energy and power stocks also moved higher, with Power Grid Corporation of India rising more than 4%. Buying was also observed in the auto, metal, and consumer durables sectors.
Top Gainers
Among the key gainers were Eternal, up more than 4%; Power Grid, up 4.11%; Tech Mahindra, up 3.33%; Tata Consultancy Services, up 3.31%; Larsen & Toubro, up 3.08%; Asian Paints, up 3%; Adani Ports, up 2.83%; Kotak Mahindra Bank, up 2.59%; Sun Pharma, up 2.60%; and Reliance Industries, up 2.26%.
Declining Stocks
Bharti Airtel declined 0.64%, while ICICI Bank fell 0.20%. Despite these declines, the broader market strength remained intact. Analysts stated that improving global cues and domestic economic stability may continue to influence market movements, with investors tracking upcoming global economic data and central bank policy announcements.
