Indian stock markets extended their rally into a third consecutive trading session on Wednesday, supported by strong buying in financials, particularly private banks, and oil and gas stocks. The BSE Sensex opened 262 points higher at 76,996, dipped briefly to 76,544 amid weak global cues, but rebounded to end the day at 77,044, marking a gain of 309 points or 0.4%.
The Nifty 50 followed a similar trajectory, falling to a low of 23,273 before climbing back to close near its day’s high at 23,433, up 104.6 points or 0.45%. Over the last three sessions, the Sensex has gained 3,197 points, while the Nifty has added 1,038 points.
Top Gainers and Sectoral Performance
Among the top gainers on the Nifty were IndusInd Bank, Axis Bank, Trent, ONGC, and Asian Paints. On the downside, Maruti Suzuki, Bajaj Finance, and Tata Motors featured among the top losers.
Sector-wise, all indices except auto ended in the green. Media, PSU banks, and oil & gas sectors were the top performers, notching up gains of 1–2%. The broader markets also showed positive momentum, with both BSE Midcap and Smallcap indices gaining 0.5% each.
Global Cues: Trump’s Tariff Threat Weighs on Asia
Despite the domestic market’s bullish run, Asian equities remained under pressure after U.S. President Donald Trump threatened to impose tariffs of up to 245% on Chinese imports, rattling investor confidence. The Hang Seng and Taiwan indices dropped nearly 2%, while Kospi and Nikkei slipped over 1% each.
Technical View: Support and Outlook Remain Strong
According to Rupak De of LKP Securities, the Nifty has closed above its 100-day EMA for the second consecutive session. “Support is now placed at 23,300, and a positive sentiment is likely to prevail as long as the index stays above this level,” he noted.
Currency Update: Rupee Strengthens Amid Positive Flows
The Indian rupee appreciated for the third day in a row, buoyed by foreign inflows, a weaker US dollar, and strong economic data, said Dilip Parmar of HDFC Securities. The near-term trend suggests a bearish bias for USD-INR, with support at 85.40 and resistance at 86.05.-IANS
