Benchmark indices rebounded on Wednesday, with the BSE Sensex surging nearly 610 points and the broader NSE Nifty closing above the 24,100 mark, driven by value buying in FMCG, auto and telecom stocks amid earnings optimism and a positive trend in Asian markets.
In a volatile trading session, the 30-share Sensex climbed 609.45 points, or 0.79 per cent, to settle at 77,496.36. During intraday trade, it had jumped as much as 1,095.6 points, or 1.42 per cent, to touch a high of 77,982.51. The 50-share Nifty advanced 181.95 points, or 0.76 per cent, to close at 24,177.65. Among Sensex constituents, ITC Limited, Tech Mahindra, Maruti Suzuki, Reliance Industries, Bharti Airtel and Mahindra & Mahindra were among the top gainers.
On the other hand, InterGlobe Aviation, NTPC Limited, Bajaj Finserv and ICICI Bank ended as laggards. Shares of Maruti rose 2.82 per cent after the country’s largest carmaker reported a record annual consolidated net profit of Rs 14,679.5 crore in FY26, marking a year-on-year growth of 1.24 per cent. The performance was supported by its highest-ever annual sales of over 24.22 lakh units, aided by GST rate reductions.
“The core driver of today’s strength remained earnings. Strong results from key companies reinforced confidence in domestic demand and balance sheet resilience. This fundamental support, along with easing geopolitical concerns, helped markets shift focus from macro pressures to corporate performance,” said Hariprasad K, Research Analyst and Founder of Livelong Wealth.
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He added that expectations of de-escalation in geopolitical tensions also helped stabilise crude oil outlook, which is crucial for India’s macroeconomic stability. Broader markets showed mixed trends, with the BSE SmallCap Select index rising 0.75 per cent, while the MidCap Select index declined 0.49 per cent.
Among sectoral indices, FMCG led the gains with a rise of 1.57 per cent, followed by Realty (1.42 per cent), Telecommunication (1.28 per cent), Energy (1.14 per cent), Auto (1.02 per cent), MidSmall Private Banks Quality Tilt (0.83 per cent) and IT (0.81 per cent).
Meanwhile, Utilities fell 1.22 per cent, Power declined 1.05 per cent, Consumer Durables dropped 0.43 per cent, Hospitals slipped 0.42 per cent, PSU Bank lost 0.42 per cent and Bankex edged down 0.07 per cent.
“The market rally was largely driven by optimism around earnings announcements and buying in select heavyweight stocks. However, elevated crude oil prices near USD 110 per barrel, continued foreign institutional outflows, and a weak rupee limited the upside and kept investors cautious,” said Ajit Mishra, SVP Research at Religare Broking Ltd.
In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite and Hong Kong’s Hang Seng ended in the green, while markets in Japan remained closed for a holiday. European markets were trading lower, and US markets had ended in negative territory on Tuesday.
Global oil benchmark Brent crude rose 2.85 per cent to USD 114.4 per barrel. According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 2,103.74 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 1,712.01 crore.
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