Investors adopted a wait-and-watch approach as India’s benchmark indices opened flat on Wednesday morning. Sensex gained a slender 7 points to hover at 83,458, with Nifty mirroring the sentiment up 1 point at 25,724 by 9:20 AM. Amid this tepid start, metal shares provided crucial support, driving sectoral momentum.
Topping the gainers was Nifty Metal, up almost 1%, fueled by commodity price strength. Sectors such as PSU Bank, Commodities, Financial Services, India Defence, Healthcare, FMCG, Pharma, and Realty also advanced, offering a counterbalance. IT, Energy, and Services sectors dipped into negative territory, weighed down by tech uncertainties.
The breadth of the market favored mid and smallcaps over largecaps. Nifty Midcap 100 climbed 172 points (0.29%) to 60,054, while Nifty Smallcap 100 rose 59 points (0.35%) to 17,208, signaling appetite for growth-oriented names.
Within Sensex constituents, Tata Steel, BEL, ITC, SBI, Bajaj Finserv, Ultratech Cement, Bajaj Finance, M&M, Sun Pharma, Titan, Indigo, Eternal, Asian Paints, and Bharti Airtel registered advances. Conversely, Infosys, Tech Mahindra, HCL Tech, ICICI Bank, HDFC Bank, TCS, Kotak Mahindra Bank, and NTPC posted losses, particularly in the financial and tech spaces.
Experts note that solid Q3 corporate performances and upbeat global events have bolstered sentiment. AI-related swings may persist in IT, though. Global markets saw closures in Shanghai, Seoul, and Hong Kong for holidays, positives in Tokyo, Bangkok, Jakarta, and strong US close. Commodities trended higher: WTI $62.38 (+0.19%), Brent $67.60 (+0.28%), gold $4,938 (+0.66%), silver $74.54. The session’s trajectory will depend on intraday cues and volume trends.