Indian equity markets opened on a positive note on Wednesday, with benchmark indices advancing amid global uncertainties. Supported by buying from domestic and foreign investors, the key indices traded higher during early deals. The National Stock Exchange's Nifty 50 once again crossed the significant 24,000 mark, while the Bombay Stock Exchange's Sensex traded with gains of more than 130 points.
According to market experts, mixed but relatively positive global cues, b domestic investment inflows and buying interest in select sectors supported the Indian market.
Benchmark indices witnessed a firm start to the trading session. The Nifty 50 crossed the psychological 24,000 level, reinforcing investor confidence. The Sensex traded above 76,900, gaining around 130 points. The market's strength for a third consecutive trading session indicates that investor interest in equities remains intact.
Information Technology (IT) and Fast-Moving Consumer Goods (FMCG) stocks provided the best support to the market on Wednesday. Buying interest in IT shares led to gains across major technology companies. Investors showed b interest in technology stocks, contributing to improved sector-wide performance. FMCG companies also witnessed positive momentum amid steady demand and defensive investment strategies.
Tata Group retail company Trent emerged as a key market highlight during Wednesday's session. The stock recorded notable gains and was among the top performers on the Nifty. Leading IT companies also contributed to market strength, with continued buying in technology shares supporting positive sentiment across the sector.
Stocks that advanced and supported the benchmark indices included Trent, Infosys, Tech Mahindra, Wipro, Tata Consultancy Services (TCS), Sun Pharma, Apollo Hospitals and Hindustan Unilever.
The gains in these stocks played a significant role in keeping the benchmark indices at elevated levels.
Despite the overall positive market trend, profit booking was observed in several major stocks. Some shares from the metals and financial sectors remained under pressure as investors opted to lock in gains following the recent rally.
Stocks that witnessed weakness included Hindalco Industries, Bajaj Finance, Axis Bank, NTPC and Reliance Industries.
The decline in these stocks had a limited impact on the broader market direction. Analysts said that the market continues to receive b support from Domestic Institutional Investors (DIIs). Regular inflows through Systematic Investment Plans (SIPs) and long-term investment flows have contributed to market stability.
