India’s benchmark indices, Sensex and Nifty, extended their winning streak for a seventh straight session on Wednesday, driven by strong global cues. The rally was based on buying interest seen across multiple sectors. Leading the charge were IT stocks, boosted by investor optimism following HCL Technologies’ March quarter results, which aligned with market expectations.
By 9:45 am, the Sensex had surged 531.31 points or 0.67 per cent to hit 80,126.90, while the Nifty advanced 155.30 points or 0.64 per cent to reach 24,322.55. Market sentiment remained upbeat, with a strong breadth: 1,985 stocks were in the green, 539 declined, and 114 traded flat.
Sectorial Update
Among the sectoral indices, Nifty IT led the gains with a rise of over 3 per cent. The rally was driven by HCL Technologies, which set the tone following its March quarter results, and was closely followed by Infosys, Tech Mahindra, Wipro, and TCS. Other notable gainers included the Nifty Auto and Nifty Realty indices, each posting around 1 per cent gains.
Borader Market Update
On the volatility front, the India VIX edged slightly higher, hovering near the 15 mark. In the broader markets, midcap stocks continued to outperform smallcaps, reflecting sustained investor interest in quality mid-sized companies.
Expert Comment
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that reassuring comments from US President Donald Trump helped calm investor nerves. “Terror attacks while succeeding in taking precious human lives cannot succeed in even marginally impacting our economy and markets. Pakistan’s political instability and basket case economy cannot do any damage to Indian economy and markets. Markets may send this message today and the fundamental factors are favourable. President Trump’s message that he has no intention of firing the Fed chief has calmed the US markets. Trump’s remarks on Chinese tariffs indicate that he might reduce the US-China tensions. The sustained buying by FIIs is a strong support to Indian markets,” he said.
“Technically the market might move into an overbought territory soon inviting some profit booking. Investors should remain invested in high quality largecaps,” he added.
