Positive vibes from the India-EU FTA breakthrough and strong global signals propelled Indian equities to a robust opening on Wednesday. Benchmark indices logged impressive gains, with the Sensex nearing 82,350 in morning trade amid heightened trade deal euphoria.
The BSE Sensex opened at 81,892.36, up 34.88 points from prior close. Nifty started at 25,258.85, adding 83.45 points. As trading progressed to 9:28 AM, Sensex rose 483.28 points (0.59%) to 82,340.76, and Nifty gained 153.45 points (0.61%) to 25,328.85. Sectoral indices across the Nifty board traded positively.
Mid and small-cap segments outperformed, with Nifty Smallcap 100 surging over 1% and Midcap 100 up 0.6%. Standouts included private banks, real estate, and energy sectors, each advancing beyond 1%. Automobiles and PSUs faced headwinds with modest dips.
Sensex heavyweights like Axis Bank, Trent, ITC, Power Grid, ICICI Bank, NTPC, BEL, TCS, and Adani Ports topped the gainers’ chart. Losers comprised Asian Paints, Maruti Suzuki, IndiGo, Kotak Mahindra Bank, Sun Pharma, and SBI.
Choice Broking’s Aakash Shah highlighted recovery efforts post recent dips, with Nifty defending 25,000 on dips thanks to banking and metal plays. Yet, mid and small-cap underperformance underscores lingering caution in broader markets.
From a technical lens, Nifty oscillates in a narrow band, facing resistance at 25,300-25,400. Breach above may spur covering; downside risks loom below 25,000 towards 24,800. Weak momentum persists, though select oversold names could rebound modestly.
Market sentiment tilts neutral-positive in consolidation. Experts urge strict risk controls, earnings vigilance, and sector-specific plays for traders. Long-term players should eye support zones for entry points amid ongoing volatility.