Mumbai: Indian equity benchmarks ended sharply higher on Wednesday, beginning the August derivatives series positively as buying across major sectors lifted market sentiment.
The BSE Sensex jumped 889 points, or 1.16 percent, to close at 77,654.60. The NSE Nifty 50 advanced 264.85 points, or 1.10 percent, to settle at 24,250.20, firmly above the important 24,200 mark.
Market breadth favoured advancing shares, showing that the rally extended beyond heavyweight stocks. The Nifty Bank gained 450 points to 57,206, while the Nifty Midcap index climbed 511 points to 62,862.
IT Shares Rise
Information technology stocks remained in strong demand. Infosys climbed 4 percent, while KPIT Technologies jumped 6 percent after its quarterly results exceeded market expectations.
Metal counters also attracted buyers. Hindalco Industries, JSW Steel and Tata Steel advanced more than 2 percent each, providing further support to the benchmark indices.
Hindustan Unilever recovered most of Tuesday’s losses and finished 5 percent higher. Larsen & Toubro gained over 2 percent after the engineering major retained its FY27 guidance.
Midcaps Advance
Broad-based buying lifted several midcap shares. Kaynes Technology surged 12 percent, while other electronics manufacturing services companies also recorded gains. Swiggy and Eternal climbed as much as 6 percent each.
Crompton, Divi’s Laboratories, PG Electroplast, Patanjali and Kalyan Jewellers were among the notable midcap gainers.
However, Phoenix Mills fell 6 percent following a subdued first-quarter performance. CarTrade Tech declined 5 percent as investors booked profits after the company announced its quarterly results.
SML Isuzu hit the 20 percent upper circuit after acquiring Mahindra & Mahindra’s truck and bus portfolio. Adani Enterprises added 1 percent, while Adani Ports slipped despite reporting an in-line quarterly performance.
In the Sensex pack, HUL, Infosys, Hindalco, Trent, L&T, Tata Steel and Bharti Airtel led gains. Adani Ports, Mahindra & Mahindra, Eicher Motors, Power Grid, Bajaj Auto and Bharat Electronics were the leading laggards.
The strong close reflected renewed investor confidence, supported by earnings-linked buying, sector-wide participation and the Nifty’s successful move above its immediate resistance level during Wednesday’s trading session.
