Nifty Crosses 23,400 Amid Broad Market Gains; Pharma Stocks Under Pressure

Indian equity markets traded higher on Wednesday, with the benchmark Nifty 50 crossing the 23,400 mark amid gains in banking, auto, and energy stocks, while pharmaceutical shares witnessed selling pressure.

The broader market sentiment remained supported by easing global concerns and improving investor confidence, although volatility persisted across sectoral indices.

Pharma stocks came under pressure during the session as investors booked profits following recent gains in defensive healthcare counters. Market participants also remained cautious amid ongoing global uncertainty surrounding regulatory developments and export-linked sectors.

Meanwhile, financial and heavyweight stocks helped lift the benchmark indices higher, as investors tracked global inflation data, crude oil price movements, and geopolitical developments affecting international markets.

The positive momentum in Indian equities comes as global investors continue to monitor the upcoming meeting between Donald Trump and Xi Jinping, alongside expectations regarding future interest rate decisions by the Federal Reserve.

Analysts said market sentiment remains sensitive to inflation trends, foreign institutional investor activity, and movements in global commodity prices, particularly crude oil.