Indian equities extended their winning streak for a third straight session on Wednesday, tracking positive global cues after the U.S. Federal Reserve trimmed rates by 0.25% to support its labour market.
The Sensex rose 320 points to close at 83,014, while the Nifty ended 93 points higher at 25,424.
Top movers included Eternal, Sun Pharma, Infosys, HDFC Bank and HCL Tech, which gained between 0.8% and 3%.
Sectorally, IT and pharma led the charge, advancing nearly 1% to 1.5%. Pharma stocks got an extra boost from Biocon and Natco Pharma, up 4% and 3.3% after favourable U.S. FDA action.
In the broader markets, mid-caps gained 0.4% and small-caps added 0.3%.
Experts remain bullish. Nilesh Jain of Centrum Broking said the Nifty’s higher-top, higher-bottom pattern signals strength, with resistance seen near 25,650 and support now at 25,300. His call? A buy-on-dips approach.
Globally, markets also rallied after the Fed’s first rate cut of the year, though Chair Jerome Powell struck a cautious tone, signalling no rush for further easing.
European stocks and Wall Street futures were up 0.5%, while Asian indices surged, with Chinese shares hitting a 10-year high.
Other markets:
The rupee weakened to 88.13 per dollar, in line with regional peers.
Brent crude slipped to $67.76 a barrel, while gold edged up to $3,665 per ounce.
That’s all in today’s Market Watch. For more updates, stay tuned to ET Markets.
