Stock market shows continued growth in anticipation of the Federal Reserve's interest rate reduction, with bank stocks experiencing a significant boost.
The Indian equities market closed on a positive note on Wednesday, with a subdued yet optimistic sentiment prevailing throughout the session.
The benchmark Sensex ended the day at 82,693.71, marking an increase of 313 points or 0.38 per cent. The Nifty 50 Index followed suit, closing at 25,330.25, up 91.15 points or 0.36 per cent.
The Nifty IT sector experienced a significant boost, ending the session 235 points or 0.65 per cent higher. The Nifty 100 also saw a gain of 86.90 points or 0.34 per cent.
Several sectoral indices, including Nifty Fin Services, Nifty Bank, Nifty Auto, and Nifty IT, recorded gains. Notably, the Nifty Auto sector surged 148 points or 0.55 per cent.
The majority of the sectoral indices escalated amid a mixed approach, with the market remaining steady due to investors' cautious optimism following prolonged discussions between India and the United States on tariff-related issues.
However, not all sectors performed equally well. Nifty FMCG witnessed profit-taking, while a few individual stocks such as Bajaj FinServ, Titan, ITC, Tata Steel, and Hindustan Unilever settled lower.
On the flip side, SBI, BEL, and Maruti Suzuki were among the heavyweights that saw buying. Other top gainers from the Sensex basket included Kotak Bank, Trent, Tech Mahindra, TCS, Mahindra and Mahindra, Tata Motors, Infosys, Asian Paints, Sun Pharma, and L&T.
The Sensex opened at 82,506.40 and reached an intraday high of 82,741.95. Additionally, the Nifty Small Cap 100 moved 124 points or 0.68 per cent, while both Nifty 100 and Nifty Midcap 100 closed with gains.
The overall positive performance of the Indian equities market reflects a cautious optimism that may persist in the coming days, as investors continue to monitor global economic developments and domestic policies closely.
