Synopsis : Indian markets traded higher on Wednesday, buoyed by optimism around an early India-US trade deal. Broader market indices and PSU banks outperformed, while Urban Company debuted with strong listing gains.
The Indian stock market extended gains on Wednesday, driven by hopes of an early and mutually beneficial trade agreement between India and the US. Following a marathon seven-hour meeting at Vanijya Bhawan in New Delhi, both nations agreed to accelerate efforts toward a deal. The talks were led by Brendan Lynch, USTR Assistant for South and Central Asia, and Rajesh Agrawal, Special Secretary in India’s Commerce Department.
At 11:00 AM, the BSE Sensex was trading at 82,686, up 305 points or 0.37%, while the NSE Nifty 50 stood at 25,331, up 92.7 points or 0.37%.
Among notable moves, Urban Company made a stellar market debut, listing at ₹161 on the BSE — a 56.31% premium over its issue price of ₹103, broadly aligning with grey market expectations.
Bharat Electronics (BEL) and State Bank of India were the top gainers in the Sensex pack, rising nearly 2.5% and 1.5% respectively. Other major movers included Maruti Suzuki, TCS, and UltraTech Cement. On the flip side, Tata Steel and Titan slipped around 1% each.
In the broader markets, the BSE MidCap index rose 0.3%, while the SmallCap index advanced 0.6%. Sectorally, PSU banks stole the limelight, with the Nifty PSU Bank index gaining 1.8%. Buying interest was also seen in IT, capital goods, and realty, which rose between 0.5–0.8%.
From a technical standpoint, Nifty continues to show strength, trading comfortably above near-term averages. According to Devarsh Vakil, Head of Prime Research at HDFC Securities, immediate support lies at 25,000, with resistance expected around the 25,420–25,500 zone.
Disclaimer : This article is for informational purposes only and should not be considered financial or investment advice. Investors are advised to consult with certified professionals before making any financial decisions.
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