Indian equity benchmarks opened higher on Wednesday, supported by positive global cues and domestic investor participation, resulting in broad-based buying across the market.
At the opening, the BSE Sensex rose 1,293.76 points, or 1.68%, to 78,141.33. The NSE Nifty advanced 366.30 points, or 1.54%, to cross 24,208.95.
Market sentiment was influenced by expectations of renewed diplomatic engagement with Iran, which supported global markets and contributed to improved investor confidence. The easing of geopolitical tensions was cited as a factor behind increased risk appetite and buying activity.
The rally was broad-based, with gains recorded across market segments. More than 2,300 stocks advanced, around 370 declined, and over 150 remained unchanged, indicating participation beyond large-cap stocks, including midcap and smallcap companies.
Banking stocks led the gains during the session, with the Nifty Bank index rising करीब 2%. Union Bank of India gained over 3%, IndusInd Bank saw buying interest, IDFC First Bank rose करीब 3%, Canara Bank advanced on b volumes, and Punjab National Bank also attracted investor interest. Market participants attributed the movement in banking stocks to expectations of improved credit growth and balance sheet strength.
The aviation sector also recorded gains, with InterGlobe Aviation (IndiGo) rising over 4.5% and featuring among the top gainers. Other advancing stocks on the Nifty included UltraTech Cement, Asian Paints, Shriram Finance, and Hindalco Industries, reflecting buying interest across sectors.
Despite the overall upward trend, some stocks traded lower. Dr. Reddy's Laboratories, ONGC, and Coal India registered declines, although these movements did not materially affect the broader market direction.
