Sensex Jumps Over 500 Points, Nifty Reclaims 24,000 in Early Trade Led by FMCG, Autos
Indian equity markets opened higher on Wednesday after a weak previous session, with Sensex rising up to 76,982 and Nifty crossing 24,000 in early trade. FMCG, auto, and consumer stocks led gains, while IT and metal counters dragged. Market breadth remained positive with more advancing stocks than declines
Indian equity benchmark indices started Wednesday’s trading session on a positive note, recovering from losses recorded in the previous session. The Sensex opened at 76,545, up by 67 points compared to its previous close of 76,478. During early trade, the index extended gains and rose as high as 76,982, marking an intraday increase of about 0.65%.
Reduction in prices of commercial gas cylinder and aviation turbine fuel eased the concerns of the investors.
Similarly, the Nifty 50 index also opened higher at 23,897, gaining 32 points over its previous close of 23,865. The index continued its upward momentum during the session and touched the 24,020 level, reflecting sustained buying interest in key sectors.
Overall market breadth remained strong and positive. Out of 3,098 stocks traded on the National Stock Exchange, 1,967 stocks advanced, while 1,037 declined, indicating broad-based participation in the rally.
Among Nifty 50 constituents, Adani Ports emerged as the top gainer with a sharp rise of 3.23%. The FMCG and consumer goods space remained strong contributors to the upward movement.
Nestlé India gained 2.74%, followed by Hindustan Unilever, which advanced 2.24%. Eternal also rose 2.14%, while ITC and Tata Consumer Products posted modest gains of 0.80% and 0.75%, respectively.
The automobile sector also witnessed strong buying interest. Mahindra & Mahindra gained 2.6%, while Maruti Suzuki and Bajaj Auto rose 1.66% and 1.27%, respectively, supporting the overall market sentiment.
On the losing side, IT stocks continued to face pressure. Tech Mahindra was the biggest loser in the Nifty pack, falling 2.21%, followed by HCL Technologies, which declined 1.61%. Infosys also slipped marginally by 0.15%.
Metal stocks remained weak, with Hindalco Industries, JSW Steel, and Tata Steel declining 1.25%, 0.45%, and 0.14%, respectively.
Sector-wise, Nifty Media was the top-performing index, surging over 3%. It was followed by the Nifty FMCG index, which rose 1.68%. On the other hand, Nifty IT and Telecom underperformed, slipping 0.75%, while the Nifty Pharma index also ended in negative territory.
Overall, the session reflected broad-based optimism driven by consumer and auto stocks, even as select defensive and export-oriented sectors came under pressure.
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