Equity markets continued to soar in mid-day trading on Wednesday, with the Sensex rising 533.11 points or 0.70 per cent to 76,434.52, and the Nifty climbing 182.20 points or 0.79 per cent to 23,139.45 as investors awaited the U.S. Federal Reserve’s interest rate decision.
The market breadth remained positive, with 2,868 stocks advancing compared to 948 declines on the BSE. Additionally, 127 stocks remained unchanged, with 43 hitting 52-week highs and 129 touching 52-week lows. Circuit filters were triggered for 479 stocks, with 223 reaching the upper circuit and 256 touching the lower circuit.
Leading the rally were auto stocks, with Bajaj Auto emerging as the top Nifty gainer, up 3.58 per cent. Shriram Finance followed closely behind, gaining 3.33 per cent. Defense and engineering major Bharat Electronics Limited (BEL) surged 3.16 per cent, while Tata Motors and JSW Steel added 2.49 per cent and 2.32 per cent, respectively.
On the downside, ITC Hotels saw the steepest decline, falling 2.69 per cent. Other notable losers included Britannia Industries (-0.81 per cent), Asian Paints (-0.57 per cent), Tata Consumer (-0.17 per cent), and Dr. Reddy’s Laboratories (-0.04 per cent).
The broader market outperformed the benchmarks, with the Nifty Next 50 rising 1.41 per cent to 61,768.80 and the Nifty Midcap Select index gaining 1.49 per cent to reach 11,817.70. Banking stocks showed moderate gains, with the Nifty Bank index up 0.43 per cent at 49,076.05, while the Nifty Financial Services index advanced 0.88 per cent to 23,007.10.
The market momentum was supported by the positive start in the morning, led by technology stocks. Trading volumes remained robust as investors awaited cues from the Fed’s policy announcement and India’s upcoming Union Budget on Saturday. The Reserve Bank of India’s planned ₹60,000-crore G-sec purchase is expected to provide additional market support through improved liquidity conditions.
Foreign institutional investors (FIIs) continued to sell, with net sales of ₹4,921 crore, while domestic institutional investors (DIIs) provided support through net purchases of ₹6,814 crore.
