Domestic equity markets recorded a sharp advance on Wednesday, with the benchmark indices extending gains through the session amid buying in information technology, power and metal stocks.
The BSE Sensex opened 304 points higher at 82,530 and rose further in early trade to touch an intraday high of 82,785. At the time of writing, the index was trading around 82,725, up approximately 510 points, or about 0.6 percent.
The Nifty 50 advanced 140 points to 25,560, crossing the 25,550 level during the session.
Information technology stocks led the gains, with buying returning to technology counters that had been under pressure in recent sessions. Shares of Tata Consultancy Services, Infosys, HCL Technologies and Tech Mahindra rose by up to around 3 percent.
The IT index, which had declined about 21 percent so far this month, gained approximately 2.5 percent during the session.
Beyond IT, power and metal stocks also attracted buying interest. Shares of Power Grid Corporation of India and NTPC registered gains, while Tata Steel and InterGlobe Aviation traded higher.
However, some large-cap stocks remained under pressure, with Bajaj Finance and Maruti Suzuki recording declines.
In the broader market, the Nifty Midcap and Smallcap indices rose by around 0.5 percent each.
Global markets provided supportive cues. In the Asia-Pacific region, Japan’s Nikkei 225 rose about 1.17 percent, South Korea’s Kospi advanced 0.84 percent, and Australia’s S&P/ASX 200 closed 0.97 percent higher.
In the United States, the Dow Jones Industrial Average ended 0.76 percent higher, the S&P 500 gained 0.77 percent, and the Nasdaq Composite rose 1.05 percent.
According to data for February 24, foreign institutional investors sold shares worth Rs 707.84 crore, while domestic institutional investors purchased shares worth Rs 4,040.56 crore.
In the primary market, Omnitech Engineering’s initial public offering opened for subscription. The IPO of PNGS Reva Diamond Jewellery entered its second day. The IPOs of Clean Max Enviro Energy Solutions and Shree Ram Twistex reached their final day of subscription.
The basis of allotment for Gaudium IVF & Women Health’s IPO is scheduled to be released today.
In the SME segment, Yaap Digital’s IPO opened for subscription. The IPOs of Accord Transformer & Switchgear, Mobilise App Lab and Kiaasa Retail are in their final day. The share allotment for Manilam Industries India is also expected to be finalised.
In the commodities market, oil prices were mixed. Brent crude declined 1.01 percent to $70.77 per barrel, while US WTI crude rose 0.67 percent to $66.07 per barrel.
