Abhishek Sinha
Indian equity benchmarks Sensex and Nifty extended their winning streak for the sixth consecutive session on Wednesday, even as late profit booking erased most of the day’s early gains.
The Sensex jumped to an intraday high of 85,290.06, up over 860 points, but settled 130 points higher at 84,556.40 — about 700 points off the peak. Meanwhile, the Nifty 50 briefly crossed the 26,000 mark, hitting 26,104, before closing 23 points higher at 25,891.40.
Broader markets underperformed — the BSE Midcap index fell 0.15% and the Smallcap index lost 0.42%.
10 Key Highlights from Today’s Stock Market Action
1. Market mood:
Early optimism around a possible India–US trade deal drove indices up nearly 1%. Reports suggested that Washington may reduce tariffs on Indian goods to 15–16% from 50%. However, weak global cues and profit-taking trimmed gains later.
2. Expert view:
Vinod Nair of Geojit Investments said, “Investors booked profits after sanctions on Russian oil and uncertainty over trade talks. Still, improving domestic sentiment and festive demand could keep the momentum intact.”
3. Top gainers:
Infosys (+3.57%), HCL Tech, TCS, Shriram Finance, and ONGC led the rally, driven by renewed strength in IT counters.
4. Top losers:
Eternal (-2.99%), IndiGo (-2.09%), Ultratech Cement, Eicher Motors, and Bharti Airtel were among the top laggards.
5. Sector performance:
Out of 11 sectoral indices, nine ended higher, led by Nifty IT (+2.2%) and Private Bank (+0.5%). Only Auto and Pharma sectors closed in the red.
6. Most active stocks:
Vodafone Idea topped the volume chart with 129 crore shares traded, followed by YES Bank, IDFC First, and South Indian Bank.
7. Big movers:
Fifteen stocks surged over 10%, including Sikko Industries, Epack Prefab, and Kitex Garments, while six counters such as Capital Trust and Zee Media fell more than 9%.
8. Market breadth:
Out of BSE-listed shares, 1,855 advanced, 2,409 declined, and 125 remained unchanged, showing mild bearish breadth.
9. 52-week highs and lows:
221 stocks touched new yearly highs — including Axis Bank, HDFC Bank, and Bajaj Finance — while 60 stocks slipped to fresh lows.
10. Technical outlook:
According to Rupak De of LKP Securities, “The Nifty formed a red candle on the daily chart, suggesting possible consolidation toward 25,700, though the short-term uptrend remains strong with potential upside to 26,200.”
Bottom Line
Despite losing steam in late trade, the Sensex and Nifty held their ground, continuing a six-day rally amid optimism over India–US trade prospects, robust IT earnings, and improving domestic demand sentiment.
