Stock market continues positive momentum ahead of Fed rate cut, bank stocks jump
Mumbai’s stock market wrapped up Wednesday on a high note, building on the previous day’s gains. Investors showed keen interest in big players like State Bank of India (SBI), Bharat Electronics (BEL), and Maruti Suzuki, pushing the indices upward despite some caution over global trade talks.
The BSE Sensex climbed 313 points, or 0.38%, to close at 82,693.71. It kicked off the day strong with a gap-up opening at 82,506.40, up from Tuesday’s close of 82,380.69, and even touched an intraday peak of 82,741.95 as buying picked up in heavyweight stocks.
Meanwhile, the NSE Nifty ended at 25,330.25, gaining 91.15 points or 0.36%. “Markets inched higher in a quiet session today, showing a mix of positivity and caution,” said Ajit Mishra, chief of Religare Broking. “The Nifty started firm but stayed in a tight range all day before settling around 25,330.”
Sector-wise, things were a bit mixed. IT, banking, and auto sectors led the charge, while metals, FMCG, and pharma saw some selling pressure. Optimism about policy changes and steady domestic investments kept the mood supportive, but ongoing foreign institutional investor (FII) selling and worries over the upcoming US Federal Reserve decision held back bigger jumps.
From the Sensex pack, top performers included SBI, BEL, Kotak Bank, Maruti Suzuki, Trent, Tech Mahindra, TCS, Mahindra & Mahindra, Tata Motors, Infosys, Asian Paints, Sun Pharma, and Larsen & Toubro. On the flip side, Bajaj Finserv, Titan, ITC, Tata Steel, and Hindustan Unilever ended lower.
Most sectoral indices rose overall. Nifty Financial Services gained 68 points or 0.26%, Nifty Bank surged 345 points or 0.63%, Nifty Auto jumped 148 points or 0.55%, and Nifty IT climbed 235 points or 0.65%. Nifty FMCG, however, dipped.
Broader markets stayed upbeat, thanks to buying in small-cap stocks. The Nifty Small Cap 100 rose 124 points or 0.68%, Nifty 100 added 86.90 points or 0.34%, and Nifty Midcap 100 gained 49 points. All eyes now on how US-India tariff discussions and the Fed’s moves might shape the next session for Indian stock market trends.
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