Indian stock markets dawned brightly on Wednesday, buoyed by the clinched India-EU Free Trade Agreement and favorable international cues. The Sensex rocketed close to 500 points higher at open, underscoring renewed confidence in export-driven growth.
Opening quotes showed BSE Sensex at 81,892.36 (+34.88 pts) and Nifty at 25,258.85 (+83.45 pts). By 9:28 AM, momentum built with Sensex at 82,340.76 (up 483.28 pts or 0.59%) and Nifty at 25,328.85 (up 153.45 pts or 0.61%). Nifty’s sectoral gauges mostly shone green.
Participation extended to broader indices: Nifty Smallcap 100 jumped over 1%, Midcap 100 added 0.6%. Leading sectors were private banking, realty, and oil & gas with gains exceeding 1%. Auto and public banks saw selective selling pressure.
Gainers in Sensex included Axis Bank, Trent, ITC, Power Grid, ICICI Bank, NTPC, BEL, TCS, and Adani Ports. Draggers were Asian Paints, Maruti Suzuki, IndiGo, Kotak Mahindra Bank, Sun Pharma, and SBI.
Per Choice Broking analyst Aakash Shah, markets rebounded from lows, Nifty clinging to 25,000 with banking, metals, and oil stocks driving the move. Mixed market breadth reveals tempered risk-taking, especially in midcaps and smallcaps.
Technical outlook points to Nifty’s consolidation near 25,300-25,400 resistance. Upside conviction needs sustained push; supports at 25,000/24,800 are pivotal. Momentum lags, but oversold pockets offer tactical buys.
Anticipate range-bound trade with mild positivity. Traders: enforce risk parameters, track results and sectors. Investors: bide time near key supports for optimal positioning in this fluid landscape.