The domestic key equity indices closed on a positive note in line with the global markets. The markets rose ahead of US President Donald Trump’s reciprocal tariffs kick in.
The NSE Nifty 50 jumped 165 points or 0.71% to settle at 23,330.90, while the BSE Sensex advanced 587.58 points or 0.77% to finish at 76,612.09.
Nifty Realty and Consumer Durables outperformed the other sectoral indices, rising 3.61% and 2.51%, respectively, in Wednesday’s trade.
The Nifty Bank increased 547 points or 1.08% to close at 51,374.50. In line with the benchmarks, the BSE Midcap edged higher by 1.38% to close at 41,667.65.
Sectoral Index
In the broader markets, small- and mid-cap stocks closed the day on a positive note. The volatility index India VIX cooled off 0.43% to the 13.72 level.
The overall market breadth remained in favour of bulls as out of 2,977 stocks traded, 2,148 advanced and 757 declined. Tata Consumer Products (6.9%) was the top gainer in the Nifty 50, followed by Zomato (4.8%), Titan (3.86%), IndusInd Bank (2.97%), and Tech Mahindra (2.10%). Meanwhile, BEL, Nestle India, Ultratech Cement, Bajaj Finserv, and Power Grid Corp were the major losers in the strong market.
“Despite mixed global cues surrounding the impending US tariffs, the domestic market experienced steady gains. This optimism was largely driven by expectations that the tariffs would have a minimal impact on the domestic economy, given the positive progress in India-US trade negotiations,” said Vinod Nair, Head of Research at Geojit Investments.
This is a developing story, more details are being added. Please watch the space for updates
» Read More
