The S&P BSE Sensex climbed 0.71% to close at 84,466.51, up 595.19 points, while the NSE Nifty 50 advanced 0.70%, or 180.85 points, to end at 25,875.80.
Here’s how analysts read the market pulse:
Global equities rallied on renewed risk appetite, driven by optimism over the anticipated resolution of the U.S. government shutdown and growing expectations of early Fed cuts amid signs of a cooling U.S. labour market, said Vinod Nair, Head of Research at Geojit Investments, adding that the emerging markets outperformed, reflecting the improvement in global sentiment.
“Indian indices mirrored this strength, with large-cap stocks leading gains, particularly in the auto, IT, and pharma sectors. Supportive domestic macro fundamentals—including easing CPI and WPI inflation, a strong GDP outlook, and healthy H2 earnings expectations—continue to underpin positive market momentum,” said Nair.
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US markets
Wall Street’s main indexes gained on Wednesday, with the Dow at a record high, as investors cheered a likely end to the longest U.S. government shutdown and as an upbeat earnings outlook from Advanced Micro Devices revived optimism around AI.AMD advanced 8.2% after the chip designer said it expects annual data center chip revenue of $100 billion within the next five years, and earnings to more than triple.The broader semiconductor index gained 1.8%, while information technology shares rose 0.4%.
Goldman Sachs was the biggest boost to the Dow, up 2.2%. Financials on the S&P 500 gained 1%.
Meanwhile, members of the House of Representatives headed back to Washington for a vote that could reopen the government and restore stability to air travel and food subsidies.
European Markets
Europe’s STOXX-600 index and London’s FTSE 100 share index hit record highs , led by banks.
The STOXX 600 is on track to end the year with dollar-based gains more than twice those of the S&P 500.
Tech View
The Nifty index continues its uptrend and looks strong after a gap-up opening, said Rupak De, Senior Technical Analyst at LKP Securities, adding that on the daily chart, the index has continued to rally higher following a retest of the falling channel breakout.
“Besides, the index has moved above the 21EMA, confirming the prevailing uptrend. The sentiment might remain positive in the short term, with the index potentially reaching 26,000. On the lower end, immediate support is placed at 25,700,” said De.
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Most active stocks in terms of turnover
BSE (Rs 4,449 crore), Infosys (Rs 2,270 crore), RIL (Rs 1,876 crore), Bharti Airtel (Rs 1,700 crore), Adani Enterprises (Rs 1,650 crore), TCS (Rs 1,389 crore) and Eternal (Rs 1,358 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 109.97 crore), YES Bank (Traded shares: 6.28 crore), Sagility India (Traded shares: 5.36 crore), Suzlon Energy (Traded shares: 5.3 crore), Reliance Power (Traded shares: 4.87 crore), Eternal (Traded shares: 4.37 crore) and Canara Bank (Traded shares: 3.97 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Tata Motors (Commercial Vehicles), Kirloskar Oil, BLS International Services, Tejas Networks, Syrma SGS Technology, Gujarat Fluorochemicals and Sonata Software were among the stocks that witnessed strong buying interest from market participants.
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52 Week high
Over 135 stocks hit their 52 week highs today while 120 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Titan and Mahindra & Mahindra.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Tata Steel, Tata Motors PV, HDFC Bank, Power Grid, HUL, Kotak Bank and Axis Bank.
Sentiment meter bullish
The market sentiments were bullish. Out of the 4,373 stocks that traded on the BSE on Wednesday, 1,764 stocks witnessed declines, 2,447 saw advances, while 162 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)