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.
Here’s how analysts read the market pulse:
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 ease in the interest rate cycle and attractive valuation, while positive global cues supported the IT and Metal indices,” said Nair.
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US markets
Wall Street headed higher and gold resumed its ascent on Wednesday as earnings season hit its stride and dovish comments from U.S. Federal Reserve Chair Jerome Powell helped investors look past trade tensions between the United States and China.All three major U.S. stock indexes gained ground in a broad rally driven by rate cut hopes and solid corporate earnings results, while crude prices rebounded and gold hit new heights as Washington and Beijing ramped up the rhetoric in their ongoing tariff dispute. President Donald Trump said he was considering cutting some trade ties with Beijing in response to China not buying U.S. soybeans.
European Markets
European stocks rose as upbeat results from France’s LVMH sparked a rally in luxury goods, soothing worries that slowing global economic growth and ongoing tariff wars are dampening corporate health.
The pan-European STOXX 600 index rose 0.62%, while Europe’s broad FTSEurofirst 300 index added 14.36 points, or 0.64%.
Tech View
Technically, the Nifty looks poised to retest the trendline hurdle near 25,450, and a decisive breakout above this level could propel the index toward 25,650 and beyond, said Ajit Mishra, SVP, Research at Religare Broking.
“We maintain a bullish bias and continue to advocate a ‘buy on dips’ approach as long as the index holds above the 25,000 support zone. Sector rotation currently favors banking, metals, and auto, while defensives like FMCG and pharma may continue to underperform in the near term so participants should align their positions accordingly,” said Mishra.
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Most active stocks in terms of turnover
HDFC Bank (Rs 2,283 crore), Persistent System (Rs 1,966 crore), RIL (Rs 1,499 crore), ICICI Lombard (Rs 1,425 crore), Tata Communications (Rs 1,377 crore), TCS (Rs 1,271 crore) and ICICI Bank (Rs 1,254 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: 76.40 crore), Bank of Maharashtra (Traded shares: 9.56 crore), YES Bank (Traded shares: 9.19 crore), Adani Power (Traded shares: 6.45 crore), Suzlon Energy (Traded shares: 5.67 crore), Eternal (Traded shares: 3.08 crore) and Reliance Power (Traded shares: 2.89 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of ICICI Lombard, Bank of Maharashtra, Persistent System, Motherson Sumi Wiring India, CESC, Ola Electric Mobility and Poonawalla Fincorp were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 149 stocks hit their 52 week highs today while 137 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Bajaj Finance and Eternal.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were SKF India, Tata Investment, BLS International Services, C.E. Info Systems, JK Cement, Bikaji Foods International and Cyient.
Sentiment meter bullish
The market sentiments were bullish. Out of the 4,326 stocks that traded on the BSE on Wednesday, 1,659 stocks witnessed declines, 2,503 saw advances, while 164 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)
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