Benchmark Indian equity indices ended higher on Wednesday, with the Sensex rising nearly 444 points and the Nifty closing above the 24,000 mark, helped by gains in financial, auto and consumer stocks.
The BSE Sensex gained 443.97 points, or 0.58%, to close at 76,922.64, while the NSE Nifty50 rose 140.10 points, or 0.59%, to settle at 24,005.85.
Market sentiment improved as crude oil prices declined, geopolitical tensions in the Middle East eased and expectations of progress on an India-US trade agreement supported buying interest. However, concerns over a weak monsoon and pressure on information technology shares limited further gains.
Financial, automobile and FMCG stocks led the market rally, while IT stocks remained under pressure. Lower oil prices also supported investor sentiment by improving the outlook for inflation and the country’s current account position.
Among sectoral indices, realty, FMCG and media stocks recorded gains, while IT and metal stocks declined.
Major gainers among Sensex-listed companies included Eternal, Asian Paints, Hindustan Unilever, Adani Ports, Mahindra & Mahindra and State Bank of India. IT companies such as HCL Technologies, Tech Mahindra, Tata Consultancy Services and Infosys ended lower.
Investors continued to monitor monsoon developments as a prolonged rainfall deficit could affect farm output, rural demand and economic growth.
The Indian rupee weakened against the US dollar, tracking losses in Asian currencies amid global market uncertainty and expectations around US Federal Reserve policy signals.
Market analysts said investors are likely to remain cautious and focus on global developments, economic data and corporate earnings in the coming sessions.
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