Synopsis : Indian equity markets opened in the green on Wednesday, with Nifty rising above 25,600 and Sensex gaining over 200 points. Mixed global signals and hopes of an India-US trade deal fueled early optimism despite weak domestic data.
Indian stock markets kicked off Wednesday’s trading session with modest gains, continuing the cautious optimism seen earlier this week. The NSE Nifty 50 opened above 25,600, while the BSE Sensex climbed 200 points to trade near 83,900, supported by strength in IT and banking majors.
The Bank Nifty rose 86 points to 57,550, reflecting investor interest in the financial space. However, the Nifty Midcap 100 and broader small-cap stocks stayed largely flat, reflecting investor caution in non-index counters.
Market Commentary:
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, commented:
“After breaking out of the 24,500-25,000 range, the market is now consolidating between 25,200 and 25,800. Any positive update around a potential India-US trade agreement could push Nifty beyond the upper limit, but sustaining at higher levels will be difficult in the absence of strong earnings support.”
He also noted that GST collections and auto sales data for June indicated sluggish growth, further suggesting that high valuations may cap upside potential.
Top Gainers in Early Trade:
Infosys, TCS, Wipro, Tech Mahindra, and Hero MotoCorp led the Nifty 50 gainers list.
Other early top movers included ICICI Bank, HCL Technologies, and Sun Pharma.
Top Losers:
Stocks under pressure included IndusInd Bank, Shriram Finance, Nestle India, Bharat Electronics, and Bajaj Finserv.
Global Market Update:
Asian markets traded lower amid uncertainty over the US Federal Reserve’s rate path.
Japan’s Nikkei 225 dropped 1.32%, and the Topix fell 0.64%.
Wall Street ended Tuesday mixed as investors reacted to updates on President Trump’s tax and spending bill and Fed Chair Powell’s cautious comments on rate cuts.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Market conditions are subject to change. Investors are advised to consult with certified financial professionals before making investment decisions.
