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Benchmark stock indices BSE Sensex and NIFTY 50 ended nearly 1 per cent higher on Wednesday, marking their third straight day of gains. The rally was supported by a slight decline in crude oil prices and a positive trend across global markets.

The 30-share Sensex climbed 633.29 points, or 0.83 per cent, to close at 76,704.13. During intraday trade, it surged as much as 929.38 points, or 1.22 per cent, to touch 77,000.22. Meanwhile, the 50-share Nifty advanced 196.65 points, or 0.83 per cent, to settle at 23,777.80.

 

Among the Sensex constituents, Eternal, Tech Mahindra, Infosys, Mahindra & Mahindra, HCL Technologies, Adani Ports, Tata Consultancy Services and Axis Bank were among the top gainers. On the other hand, NTPC, Hindustan Unilever, Sun Pharma and HDFC Bank were among the laggards.

 

Also read: Rupee hits record low of 92.63 against US dollar

 
According to Vinod Nair, Head of Research at Geojit Investments Limited, domestic markets extended their recovery on the back of opportunistic buying following the recent sell-off. He noted that the rebound was broad-based, driven by short covering and value buying, with strong leadership from IT, realty, and auto sectors, along with gains in mid and small-cap stocks.

Ajit Mishra, SVP of Research at Religare Broking, said markets maintained their upward momentum for a third session, aided by steady global cues despite ongoing volatility. The Nifty opened on a strong note and remained largely positive throughout the session, although some profit booking in the final hours trimmed gains. He highlighted that a sharp rebound in IT stocks played a key role in driving the recovery.

 

The broader market also saw strong performance, with the BSE MidCap Select index rising 2.39 per cent and the SmallCap Select index gaining 1.59 per cent. Among sectoral indices, BSE Focused IT surged 2.95 per cent, followed by IT (2.82 per cent), realty (2.67 per cent), BSE MidSmall Private Banks Quality Tilt (2.48 per cent), services (2.45 per cent), telecommunication (2.44 per cent), and consumer discretionary (2.08 per cent). Metal was the only sector to end in the red.

 

Overall market breadth remained positive, with 3,202 stocks advancing, 1,088 declining, and 142 remaining unchanged on the BSE. Analysts cautioned that lingering geopolitical tensions, weakness in the rupee, and the risk of renewed volatility in crude oil prices could keep investors on edge.

 

Siddhartha Khemka of Motilal Oswal Financial Services noted that while markets have seen a strong three-day rebound supported by global cues, sentiment remains sensitive to developments in West Asia, oil price movements, and foreign institutional investor activity. He added that the sustainability of the current rally will depend on easing geopolitical tensions and moderation in energy prices.

 

On Tuesday, the Sensex had jumped 567.99 points, or 0.75 per cent, to close at 76,070.84, while the Nifty rose 172.35 points, or 0.74 per cent, to settle at 23,581.15.