The Nifty 50 rose 0.29% or 60 points to open at 24,555, while the Sensex climbed 0.25% or 201 points to open at 80,437.
On the 30-stock Sensex, Bharat Electronics, Tata Motors, Power Grid, Eternal, and Reliance Industries led early gains, advancing between 0.6% and 1.4%.
Financials added 0.2%, with the Nifty Bank up 0.2% and the Nifty PSU climbing 0.4%, while heavyweight lenders ICICI Bank and HDFC Bank rose 0.4% and 0.9%, respectively.
Apollo Hospitals surged 5.4% after reporting a June-quarter profit boost on higher patient volumes, and Nykaa shares rallied 3.7% following a two-fold jump in quarterly earnings driven by beauty product demand.
Broader markets were firmer as small-cap and mid-cap stocks gained about 0.5% each.
Expert Views
“Trump’s harsh tariffs and the straining of relations between U.S. and India have impacted the market sentiments and, consequently, shorts have piled up pulling the market down. The tepid earnings growth, elevated valuations and modest projection of 8 to 10% earnings growth for FY26 have emboldened the bears to increase the short positions,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments. A sudden reversal of sentiments can lead to short covering and sharp recovery in the market, said Vijayakumar, adding that the Trump-Putin talks may provide a positive trigger but there is no certainty about it. “This is the right time for asset allocation. Investors with a long-term investment horizon of 3 years and above can accumulate fairly valued largecaps in banking, telecom, capital goods, aviation and select midcap IT. The risk-reward in these segments is favourable for investment,” said Vijayakumar.
Despite the turn lower yesterday, we will stick to yesterday’s view that a rush to the 200 day SMA, now positioned at 24049, may not be seen unless 24450 gives away, said Anand James, Chief Market Strategist, Geojit Investments, adding that “expect an upswing attempt initially, but we will need a push above 24560 to get back on to the 25000 trajectory.”
Global Markets
Asian stocks advanced on Wednesday, with the MSCI Asia ex-Japan index up 0.6%, tracking overnight gains on Wall Street where the S&P 500 and Nasdaq Composite closed at record highs after U.S. consumer prices rose just 0.2% in July, in line with expectations.
The data pushed the market-implied probability of a September Federal Reserve rate cut to 94% from 86% a day earlier, bolstering the appeal of emerging-market equities such as India as U.S. Treasury yields ease.
India’s retail inflation fell to an eight-year low of 1.55% in July, below the Reserve Bank of India’s 2%-6% target range, driven by lower food prices.
Spot gold was steady at $3,348.10 an ounce, while Euro Stoxx 50 futures gained 0.2% in early trade.
FII/DII Tracker
Foreign Institutional Investors offloaded Indian equities worth roughly Rs 3,399 crore on August 12, while Domestic Institutional Investors stepped in as net buyers, purchasing about Rs 3,508 crore, according to provisional exchange data.
Crude Impact
Oil prices steadied Wednesday after the prior session’s decline, as an industry report showing a rise in U.S. crude inventories signaled the seasonal summer demand peak may be fading.
Brent crude futures inched up 3 cents to $66.15 a barrel at 0102 GMT, after falling 0.8% on Tuesday. U.S. West Texas Intermediate futures slipped 3 cents to $63.14, following a 1.2% drop in the previous session.