BIZ DESK
Benchmark domestic equity indices Sensex and Nifty closed with solid gains on Wednesday, extending early momentum on the back of strong buying in banking, capital goods, and IT counters.
The Sensex surged 313 points, or 0.38%, to close at 82,694, while the Nifty advanced 91 points, or 0.36%, to settle at 25,330. Broader market sentiment also remained upbeat—BSE Midcap gained 0.2% and Smallcap jumped 0.5%, indicating wider participation beyond frontline stocks.
Market Breadth
At the Bombay Stock Exchange, market breadth was positive: 2,408 stocks advanced, 1,746 declined, and 174 remained unchanged, reflecting overall investor confidence.
Top Movers in Sensex Pack
- Winners:
- State Bank of India (SBI) led the rally, surging over 3% on expectations of strong quarterly credit growth.
- Bharat Electronics Ltd (BEL) climbed nearly 2.4%, tracking defense sector optimism and robust order inflows.
- Kotak Mahindra Bank added 1.4% amid reports of sustained retail lending momentum.
- Losers:
- Bajaj Finserv and Titan slipped almost 1% each on profit-taking.
- ITC fell 0.9% after a muted volume outlook in FMCG.
- Tata Steel lost 0.4% in line with weakness in global metal prices.
Sectoral Trends at BSE
Out of 21 sectoral indices, 14 ended in the green, suggesting a largely broad-based recovery.
- Top Gainers:
- Capital Goods (+1%): Boosted by infrastructure push and strong order pipelines in engineering companies.
- Bankex (+0.7%): Gains led by PSU banks and select private lenders.
- Industrials (+0.7%): Backed by auto ancillaries and construction-related firms.
- IT (+0.7%): Tech stocks edged higher ahead of key US Fed commentary and strong global demand signals.
- Laggards:
- Metal (-0.5%): Hurt by weak global commodity prices and concerns over Chinese demand.
- Telecom (-0.4%): Pressured by rising competition and 5G rollout cost concerns.
- Utilities (-0.3%): Dragged by select power and energy distribution firms.
Outlook
Analysts said today’s rally reflects renewed optimism in domestic growth sectors, with banking and capital goods leading the charge. However, caution persists in commodity-linked counters like metals. Market participants will now look ahead to global cues, US Fed policy signals, and crude oil price trends for further direction.