Indian stock markets ended Wednesday’s session on a strong note, supported by gains in metal, real estate, and technology shares.
Among the key highlights was the continued strength in domestic defence stocks, which have been gaining momentum for three consecutive sessions. The sector remained resilient and continued to attract consistent buying interest from investors.
Despite some intraday volatility, investor sentiment remained positive, helping the benchmark indices close in the green.
At the closing bell, the Sensex was up by 182 points, or 0.22 per cent, settling at 81,330.56.
Similarly, the Nifty rose by 88 points, or 0.36 per cent, ending the day at 24,666.
In the Nifty index, key option levels indicate 25,000 and 25,500 as major call resistances, while 24,000 and 24,500 serve as strong put supports, according to experts.
The put-call ratio (PCR) of 0.72 suggests a mildly bearish bias, noted Sundar Kewat of Ashika Institutional Equity.
On the 30-share index, Tata Steel led the list of gainers with a 3.88 per cent rise, followed by Eternal (2.18 per cent), Tech Mahindra (2.02 per cent), and Maruti Suzuki India (1.66 per cent), among others.
On the downside, the biggest loser was Asian Paints, which declined by 1.78 per cent to close the session at Rs 2,283.65.
Other notable laggards included Tata Motors, down by 1.26 per cent, and Kotak Mahindra Bank, which fell by 1.11 per cent.
Broader markets outperformed the headline indices, with the Nifty Midcap 100 index climbing 1.13 per cent and the Nifty Smallcap 100 index advancing 1.36 per cent—reflecting healthy investor interest in mid- and small-cap stocks.
Adding to the upbeat market sentiment was the latest data on India’s retail inflation, which eased to its lowest level in over six years in April.
The decline, largely driven by lower food prices, has strengthened expectations of a potential rate cut by the Reserve Bank of India (RBI).
Global cues also lent support, as softer-than-expected U.S. consumer inflation data eased concerns over inflationary pressures and lifted hopes that the Federal Reserve may adopt a more accommodative stance going forward.
With both domestic and global factors aligning favourably, market experts believe investor confidence is likely to remain strong in the near term.
“The retreat in crude oil prices and the overall softening of the greenback acted as tailwinds, specifically supporting the local currency during intraday trading,” said Dilip Parmar of HDFC Securities.-IANS
