Sensex Soars 770 Points, Nifty Crosses 25,900 Mark
Indian equity markets witnessed a robust rally on Wednesday with the Sensex surging over 770 points and Nifty crossing the 25,900 level. The bullish momentum was driven by strong global cues, optimism around US-India trade relations, and positive domestic political developments.
Key Market Performance
- Sensex: Jumped 773.64 points (0.92%) to 84,644.96
- Nifty: Gained 231.8 points (0.90%) to 25,926.75
- Top Gainers: Tech Mahindra, TCS, Reliance Industries, Infosys, Bharti Airtel
- Market Breadth: Broad-based buying across sectors
Driving Factors Behind the Rally
The market surge was supported by multiple positive catalysts. Investor sentiment received a significant boost from Bihar exit polls indicating a likely victory for the incumbent NDA alliance. Additionally, growing optimism about an impending India-US trade deal and progress toward ending the US government shutdown contributed to the bullish momentum.
Asian markets provided strong global cues, with South Korea’s Kospi and Japan’s Nikkei 225 ending higher. The US markets had also closed largely higher on Tuesday, creating a positive global backdrop for Indian equities.
Institutional Activity and Expert View
According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth ₹803.22 crore on Tuesday, while Domestic Institutional Investors bought stocks worth ₹2,188.47 crore.
“Bulls took charge on Tuesday as Nifty staged a strong comeback, buoyed by exit polls in Bihar predicting a BJP-JD(U) landslide and optimism over a US-India trade deal, possible Fed rate cuts, and hopes of an end to the US shutdown. While sentiment is upbeat, concerns linger over the Delhi bomb blast and FII selling worth Rs 803 crore,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
In commodities, Brent crude, the global oil benchmark, fell 0.37% to $64.92 per barrel, providing some relief to oil-importing sectors.
