India’s benchmark indices opened in the green on Wednesday, tracking upbeat cues from Asian markets that bolstered investor sentiment.
The Sensex climbed 155.81 points, or 0.19 percent, to 80,893.32, while the NSE Nifty gained 60 points, or 0.25 percent, to 24,602.80 in early trade.
Broader market participation remained strong, with midcap and smallcap stocks continuing their upward momentum. The Nifty Midcap 100 advanced 309.30 points, or 0.54 percent, to 57,826.40, and the Nifty Smallcap 100 rose 88.40 points, or 0.49percent, to 18,210.75.
Top gainers in early trade included Bharti Airtel, Zomato (Eternal), Tata Motors, M&M, IndusInd Bank, Maruti Suzuki, Tech Mahindra, Bajaj Finance, ITC, HUL, and Infosys. TCS, Ultratech Cement, ICICI Bank, Titan, and Sun Pharma were among the major laggards.
Asian markets traded higher, with indices in Tokyo, Shanghai, Hong Kong, Seoul, and Jakarta posting gains. Overnight, U.S. stocks also ended in positive territory, lending further support to sentiment.
On the institutional side, foreign institutional investors (FIIs) extended their selling streak for the third consecutive session on Tuesday, offloading equities worth Rs 2,853.83 crore. Meanwhile, domestic institutional investors (DIIs) remained steady buyers for the 11th session in a row, infusing Rs 5,907.97 crore into equities.
Analysts highlighted that India’s benign CPI inflation provides the Reserve Bank of India (RBI) with scope for at least two more rate cuts in 2025. While this could impact bank margins, large private lenders are expected to deliver 12–15 percent returns over the next year, supported by strong fundamentals.
(With inputs from IANS)