Sensex Jumps 595 Points, Nifty Climbs 181 As Markets Rally For Third Straight Session On IT & Auto Boost

Mumbai: Indian equity benchmarks extended their winning streak for the third consecutive session on Wednesday, supported by consistent buying across major sectors. The Sensex surged 595.19 points, or 0.71 percent, to close at 84,466.51, while the Nifty gained 180.85 points, or 0.70 percent, to end at 25,875.80.

The 30-share BSE index opened sharply higher at 84,238.86 and touched an intraday peak of 84,652.01, driven by strong gains in IT and auto heavyweights.

Sectoral Performance: IT Leads the Charge

Among sectoral indices, IT stocks were the top performers, with the Nifty IT index rising 738 points or 2.04 percent. Nifty Auto advanced 336 points or 1.24 percent, while Nifty Bank and Nifty Financial Services also posted modest gains of 0.23 percent and 0.12 percent, respectively.

Key gainers from the Sensex pack included TCS, Adani Ports, Bharti Airtel, Infosys, and Sun Pharma. However, Tata Steel and both Tata Motors’ PV and CV divisions ended in negative territory.

Broader Market and Technical Outlook

The broader market mirrored the benchmark’s performance, with Nifty Smallcap 100 climbing 0.82 percent, Nifty Midcap 100 up 0.79 percent, and Nifty 100 gaining 0.61 percent.

Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that the benchmarks sustained their bullish momentum throughout the day. He highlighted that 25,775/84,300 levels and the 20-day Simple Moving Average (SMA) near 25,700/84,000 would serve as key support zones. As long as indices remain above these levels, the bullish outlook is expected to persist, with potential upside targets of 26,000–26,100 on the Nifty and 84,800–85,000 on the Sensex.

Macroeconomic and Global Cues

Improving global sentiment, easing inflation, and strong GDP forecasts continue to support the positive momentum in Indian markets. The rupee traded slightly weaker by 0.06 at 88.62 against the U.S. dollar, moving within a narrow range.

The dollar index held steady around 99.60, as traders awaited U.S. CPI data for fresh cues. Analysts expect the rupee to stay range-bound between 88.40 and 88.85 in the near term.