Indian equity markets opened on a strong note on Wednesday, with benchmark indices Sensex and Nifty continuing their upward momentum for the third straight session. The rally was supported by easing crude oil prices, positive global cues, and strong buying in IT stocks.
The 30-share BSE Sensex surged 518.84 points in early trade to reach 76,589.68, while the NSE Nifty climbed 157.75 points to 23,738.90. However, some heavyweight stocks including HDFC Bank, ICICI Bank, Tata Steel, and Kotak Mahindra Bank traded in the red, capping broader gains.
A key factor boosting investor sentiment was the decline in global crude oil prices. Brent crude dropped 1.46% to $101.9 per barrel, easing concerns of a sharp spike amid ongoing geopolitical tensions.
Market experts noted that despite uncertainties surrounding the global conflict, markets have shown resilience. The fact that crude prices have remained near the $100 mark — instead of surging beyond $120 — has helped sustain investor confidence.
Global markets also lent support to the domestic rally. South Korea’s Kospi index jumped nearly 4%, while Japan’s Nikkei 225 gained over 2%. However, China’s Shanghai Composite and Hong Kong’s Hang Seng traded slightly lower.
U.S. markets had ended on a positive note in the previous session, further adding to the upbeat sentiment.
On the institutional front, Foreign Institutional Investors (FIIs) continued to remain net sellers, offloading equities worth ₹4,741.22 crore on Tuesday. In contrast, Domestic Institutional Investors (DIIs) provided stability by purchasing stocks worth ₹5,225.32 crore, helping cushion market volatility.
In the previous session, the Sensex had risen by 567.99 points (0.75%) to close at 76,070.84, while the Nifty gained 172.35 points (0.74%) to settle at 23,581.15, setting the stage for Wednesday’s continued rally.
