Indian equity markets closed higher on Wednesday, buoyed by strong performances in metal, real estate, and technology sectors, along with sustained investor interest in domestic defence stocks, which extended their winning streak for the third consecutive session.
Despite intermittent volatility through the day, positive sentiment prevailed, helping benchmark indices notch up modest gains.
At the close, the BSE Sensex advanced 182 points, or 0.22%, to end at 81,330.56, while the NSE Nifty 50 climbed 88 points, or 0.36%, settling at 24,666.
Key Technical Levels and Sector Highlights
Market experts highlighted 24,000 and 24,500 as key put support levels for Nifty, while 25,000 and 25,500 remain significant call resistances. The Put-Call Ratio (PCR) at 0.72 signals a mildly bearish undertone, according to Sundar Kewat of Ashika Institutional Equity.
Among the top gainers on the Sensex:
Tata Steel surged 3.88%
Eternal rose 2.18%
Tech Mahindra added 2.02%
Maruti Suzuki climbed 1.66%
On the flip side, Asian Paints led the losers, falling 1.78% to ₹2,283.65. Other notable decliners included Tata Motors (-1.26%) and Kotak Mahindra Bank (-1.11%).
Mid & Small Caps Outperform
The broader markets outshone the benchmark indices:
Nifty Midcap 100 gained 1.13%
Nifty Smallcap 100 jumped 1.36%
This reflects a healthy appetite among investors for mid- and small-cap stocks, signaling a broader market strength beyond the blue-chip counters.
Macro Tailwinds Support Momentum
Adding to the market’s optimistic tone was the sharp decline in India’s retail inflation, which fell to a six-year low in April, driven primarily by easing food prices. The data has fuelled expectations of a potential RBI rate cut, offering a further boost to sentiment.
Global markets also lent support, as US inflation data came in softer than expected, raising hopes that the Federal Reserve may consider loosening monetary policy in the months ahead.
“The pullback in crude oil prices and the softening of the US dollar provided additional support, particularly for the Indian rupee during intraday trading,” noted Dilip Parmar of HDFC Securities.
Outlook
With both domestic fundamentals and global cues aligning favourably, market analysts remain cautiously optimistic about the near-term trajectory. Investors will now look forward to upcoming corporate earnings and monetary policy signals to gauge the sustainability of the rally.
