Synopsis : Indian markets traded firmly higher on Wednesday, led by strong buying in IT and private banking stocks. However, solar and renewable energy shares tumbled sharply after the U.S. imposed fresh import tariffs.
Indian equity benchmarks extended gains on Wednesday, supported by a strong rally in information technology and private banking stocks. A sharp decline in volatility also added to the positive undertone, even as renewable energy stocks witnessed heavy selling pressure.
At around 10:45 AM, the BSE Sensex was trading at 82,830, up 600 points or 0.7 per cent, while the NSE Nifty 50 surged 195 points or 0.8 per cent to 25,618.
IT and Heavyweights Lead Rally
Among the Sensex 30 stocks, Infosys, Tech Mahindra, TCS and HCL Technologies gained between 2 and 3 per cent each, emerging as the top drivers of the benchmark’s rise. InterGlobe Aviation (IndiGo), Power Grid Corporation, Larsen & Toubro, Tata Steel and ICICI Bank also posted solid gains, lending broad-based support.
The rally was not limited to frontline indices. The Nifty MidCap 100 advanced 0.6 per cent, while the Nifty SmallCap 100 climbed 0.8 per cent, indicating improved risk appetite across market segments.
Volatility Eases, Metals and IT Shine
Market volatility cooled off, with the India VIX slipping over 9 per cent to 12.87, reflecting easing near-term risk perception.
Sectorally, the Nifty IT index emerged as the top performer, rising nearly 3 per cent, followed by the Nifty Metal index, which gained around 2.5 per cent on strong buying interest.
Solar Stocks Sink on US Tariffs
In contrast to the broader market strength, solar and renewable energy stocks plunged as much as 14 per cent in the broader market after the United States imposed import tariffs on multiple countries. Stocks such as Waaree Energies and Premier Energies were among the worst hit, as concerns over export demand and margins resurfaced.
BS Manthan Concludes Today
The third edition of Business Standard Manthan, the annual thought leaders’ summit, concludes today at Bharat Mandapam, New Delhi. The event features high-profile speakers including Union Finance and Corporate Affairs Minister Nirmala Sitharaman and former G20 Sherpa Amitabh Kant, among others.
Outlook
With IT stocks regaining leadership and volatility easing, near-term sentiment appears constructive. However, global trade developments and policy actions, especially around tariffs, remain key variables to watch.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Readers should consult a qualified financial advisor before making any investment decisions.
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