The S&P BSE Sensex climbed 0.7%, or 575.45 points, to close at 82,605.43, while the NSE Nifty 50 added 0.71%, or 178.05 points, to finish at 25,323.55.
Bank of Maharashtra surged 7.6% to a one-year high after brokerages cited strong loan growth, stable asset quality, and a smaller-than-expected decline in net interest margin in the September quarter. The solid results from the state-run lender lifted the PSU Bank index 1.7%.
ICICI Lombard General Insurance rallied 8.9%, emerging as the top gainer among financials, after posting higher profit for the September quarter.
Persistent Systems climbed 7.2%, leading advances in IT stocks, following a robust set of quarterly earnings.
Larsen & Toubro rose 2.3% and was among the top three contributors to Nifty’s gains after Jefferies raised its target price on the infrastructure heavyweight.In contrast, Cyient DLM fell 6% after the integrated electronics manufacturer reported weaker revenue and profit for the July–September quarter.Broader markets also advanced, with the mid-caps and small-caps up 1.1% and 0.8%, respectively.
Expert view
The national market inched higher after two days of selling and a dovish comment by the Fed chair on rates and considering an end to its quantitative tightening, sparked the global market sentiment, said Vinod Nair, Head of Research at Geojit Investments.
“The US 10-year yield declined while the rupee gained, indicating a momentum shift in FIIs to emerging markets like India, which may navigate the domestic market trajectory in the short to medium term. Realty outperformed due to an easing in the interest rate cycle and attractive valuation, while positive global cues supported the IT and Metal indices,” said Nair.
Global Markets
Global equities rebounded on Wednesday, recouping some of their recent losses, after U.S. Federal Reserve Chair Jerome Powell’s dovish-leaning remarks and upbeat bank earnings on Wall Street lifted sentiment. The dollar weakened as investors shifted toward risk assets.
In Europe, the Stoxx 600 rose 0.7%, with France’s CAC 40 jumping 2.4% as LVMH shares soared 12% following stronger-than-expected earnings, fueling a rally across the luxury sector.
U.S. futures pointed to further gains, with Nasdaq futures up 0.5% and S&P 500 futures rising 0.4%.
Elsewhere in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 2.1%, led by a 2% advance in Hong Kong stocks.
Meanwhile, spot gold breached $4,200 an ounce for the first time, extending its record-setting run as investors sought safety amid geopolitical tensions and growing bets on a U.S. rate cut.
Crude Impact
Oil prices slipped on Wednesday as investors weighed the International Energy Agency’s forecast of a supply surplus in 2026 and rising U.S.–China trade tensions that could dampen demand.
Brent crude futures fell 0.3% to $62.18 a barrel, while U.S. West Texas Intermediate futures eased 0.2% to $58.57 by 0854 GMT.
Rupee vs Dollar
The Indian rupee surged to its strongest one-day gain in nearly four months on Wednesday, closing at 88.0750 against the U.S. dollar, up 0.8%, its best performance since June 25. The rally was driven by firm central bank intervention and traders unwinding bearish bets on the currency.
Meanwhile, the dollar index slipped 0.2% to 98.8 after U.S. Federal Reserve Chair Jerome Powell’s comments fueled expectations of a series of rate cuts in the coming months.
as a Reliable and Trusted News Source(with inputs from agencies)