The BSE Sensex rose 283 points, higher by 0.34% to end the day at 83,734, while the Nifty 50 gained 94 points or 0.37% to end at 25,819.
On the 30-share Sensex, Kwality Walls’ India rose 5% to become the top gainer in today’s session. Tata Steel, ITC, Axis Bank, and M&M rose up to 3%. Tech Mahindra, Eternal, Infosys, Adani Ports, HCL Tech, and TCS declined up to 1.6%.
Expert views
“The Indian stock market ended the session on a mildly positive note, as strength in banking, metal, and FMCG stocks provided a steady underpinning and helped counterbalance sharp selling in the IT sector. The resilience in these heavyweight segments lent stability to the indices despite sector-specific pressure. Persistent DII inflows continued to offer strong structural support, cushioning volatility and reinforcing investor confidence amid mixed global cues,” Ponmudi R, CEO of Enrich Money, said.
“Overall sentiment remained cautiously constructive, backed by optimism around domestic growth prospects and improving earnings visibility. However, in the absence of fresh triggers, price action remained largely range-bound and choppy, indicating a phase of consolidation rather than a decisive directional move.”
Global markets
European markets opened higher on Wednesday as investors assessed the latest U.K. inflation data and kept an eye on global market cues. The pan-European STOXX Europe 600 rose about 0.5% shortly after the open. Among major regional indices, the U.K.’s FTSE 100 and France’s CAC 40 gained 0.3% each, while Germany’s DAX advanced 0.4%.
In the U.S., stock futures were largely flat in overnight trading following a muted session on Wall Street. Futures linked to the Dow Jones Industrial Average edged down 32 points, or 0.06%. S&P 500 futures slipped 0.07%, while Nasdaq-100 futures declined 0.1%.In regular trading on Tuesday, the major averages posted modest gains. The S&P 500 and the Nasdaq Composite each rose around 0.1%, while the 30-stock Dow Jones Industrial Average added roughly 32 points, or nearly 0.1%.
The software sector remained under pressure amid ongoing concerns about potential disruption from artificial intelligence. Shares of CrowdStrike fell 3.6%, while ServiceNow declined 1.1% during the session.
In Japan, the Nikkei 225 rose 1% to 57,144, to snap a three-day losing streak. Australia’s S&P/ASX 200 gained 0.55%. Markets in mainland China, Hong Kong, Singapore, Taiwan and South Korea were closed for Lunar New Year holidays.
Crude impact
Oil prices edged higher on Wednesday after tumbling nearly 2% in the previous session, as investors evaluated progress in U.S.–Iran talks while remaining cautious about the likelihood of a final agreement that could ease supply concerns.
Futures for Brent crude rose 26 cents, or 0.4%, to $67.68 per barrel as of 0931 GMT. Meanwhile, West Texas Intermediate (WTI) crude gained 24 cents, or 0.4%, to $62.57 a barrel. Despite the uptick, both benchmarks were hovering near two-week lows.
Rupee vs Dollar
The Indian rupee ended at 90.68 against the U.S. dollar, nearly unchanged from its previous close of 90.6725.
With inputs from agencies
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)