Indian equity markets ended Wednesday’s session on a positive note, driven by gains in metal, real estate, and technology stocks.
Among the standout performers was the domestic defence sector, which continued its upward trajectory for the third consecutive session. The sector attracted steady buying interest, reflecting sustained investor confidence.
Despite intra-day volatility, overall market sentiment remained optimistic, helping benchmark indices close in the green.
At the close, the BSE Sensex rose 182 points, or 0.22 per cent, to settle at 81,330.56, while the NSE Nifty gained 88 points, or 0.36 per cent, to end at 24,666.
According to analysts, key option data for the Nifty indicates major resistance at 25,000 and 25,500 call levels, with strong support around the 24,000 and 24,500 put levels. The put-call ratio (PCR) stood at 0.72, signaling a mildly bearish bias, noted Sundar Kewat of Ashika Institutional Equity.
On the 30-share Sensex, Tata Steel emerged as the top gainer, climbing 3.88 per cent. It was followed by Eternal (2.18 per cent), Tech Mahindra (2.02 per cent), and Maruti Suzuki India (1.66 per cent).
In contrast, Asian Paints was the biggest laggard, slipping 1.78 per cent to close at ₹2,283.65. Other notable losers included Tata Motors (down 1.26 per cent) and Kotak Mahindra Bank (down 1.11 per cent).
Broader markets outperformed the frontline indices. The Nifty Midcap 100 rose 1.13 per cent, while the Nifty Smallcap 100 advanced 1.36 per cent, highlighting strong interest in mid- and small-cap stocks.
Investor confidence was further buoyed by the latest retail inflation data, which showed price growth in April easing to its slowest pace in over six years. The decline, mainly due to lower food prices, has strengthened expectations of a potential rate cut by the Reserve Bank of India.
Global cues also contributed to the upbeat mood, as softer-than-expected U.S. inflation data eased concerns over monetary tightening and raised hopes that the Federal Reserve may adopt a more accommodative stance.
“The retreat in crude oil prices and the softening of the U.S. dollar served as additional tailwinds, lending support to the rupee during intra-day trading,” said Dilip Parmar of HDFC Securities.
With both domestic and global factors currently favoring the market, analysts expect investor sentiment to remain constructive in the near term.
—IANS