Domestic equity markets opened sharply higher on Wednesday despite mixed global cues and rising crude oil prices. Strong buying in select sectors and improved investor sentiment lifted benchmark indices in early trade, with the BSE Sensex rising by as much as 800 points and the NSE Nifty 50 crossing the 24,200 mark. Information technology stocks provided the primary support to the market's advance.
According to market experts, domestic investor confidence remained firm despite mixed signals from global markets. Investors also continued to monitor corporate earnings, foreign investor activity, and global economic indicators.
At around 9:40 a.m., the BSE Sensex was trading 777.71 points, or 1.01%, higher at 77,543.63. The NSE Nifty 50 rose 218.85 points, or 0.91%, to 24,204.20. The b opening indicated a positive start to the trading session, with buying interest particularly visible in information technology and infrastructure stocks.
The Indian rupee also strengthened alongside the equity market. In early trade, the rupee opened 12 paise higher against the US dollar at ₹95.70 per dollar. Market experts said the rupee's movement is directly influenced by the global dollar index, crude oil prices, and foreign investor activity, with market participants expected to continue tracking these factors in the coming trading sessions.
Of the 30 constituent stocks in the BSE Sensex, 24 were trading in positive territory during early trade. Infosys emerged as the top gainer, rising approximately 3.56%. Buying was also seen in Larsen & Toubro (L&T), Tata Consultancy Services (TCS), Hindustan Unilever, Eternal, Tech Mahindra, Bharti Airtel, and Bajaj Finance.
In contrast, Maruti Suzuki, Titan, NTPC, Asian Paints, IndiGo, and Power Grid traded under pressure in early dealings and registered modest declines.
The information technology sector remained the key driver of the market's gains. Strong buying in Infosys, TCS, and Tech Mahindra helped the Nifty IT Index outperform other sectoral indices. According to the source content, global demand and corporate earnings estimates were also considered favourable for the sector.
The broader market also traded higher. The Nifty Midcap Index was up approximately 0.54%, while the Nifty Smallcap Index advanced around 0.66% in early trade, indicating buying interest across mid-cap and small-cap stocks in addition to large-cap companies.
