Domestic benchmark indices experienced a notable rally on Wednesday, driven by robust global cues and an uptick in investor sentiment, primarily fueled by rising expectations of a US Federal Reserve rate cut. This development has bolstered risk appetite among investors worldwide.
The positive momentum seen in global and Asian markets transferred to domestic trading, highlighted by broad-based buying across various sectors. Banks and metals led the charge, signaling a renewed sense of confidence in the market.
As of 12:13 PM, the Sensex surged 850.49 points, or 1.01 percent, reaching 85,437.50, close to its intraday high of 85,468.11, following an opening of 84,503.44. Meanwhile, the Nifty 50 rose 272.40 points, or 1.05 percent, to hit 26,157.20, near its peak of 26,161.20 after opening at 25,842.95.
Drumil Vithlani, a technical analyst at Bonanza, noted that the trend reflects a mix of short-covering, sector rotation, and supportive technical indicators, indicating that the movement is more than just a temporary bounce.
Both midcap and smallcap indices outperformed the broader market, each rising over 1 percent. All sectoral indices recorded gains; banking and metal stocks were particularly strong, while IT, realty, media, and oil & gas indices also posted gains of more than 1 percent. Notably, during the session, the Nifty Bank index reached a record high of 59,515.30.
Pravesh Gour, Senior Technical Analyst at Swastika Investmart, commented on the favorable market conditions, attributing the rally to sector-specific buying, particularly with gains across the board. He highlighted that metal stocks and public sector banks are leading the upward movement, supported by improving global commodity sentiment and selective value buying.
In the Nifty 50, shares of JSW Steel, Adani Ports, HDFC Life, Bajaj Finance, Trent, and Bajaj Finserv emerged as the top gainers, while Bharti Airtel was the only stock trading in negative territory. Out of 2,995 stocks traded on the National Stock Exchange at the time of reporting, 2,253 stocks advanced, 653 declined, and 89 remained unchanged. Additionally, 43 stocks hit their 52-week highs, and 63 reached their 52-week lows during the session.
Key heavyweight stocks such as Reliance, MCX, Axis Bank, Canara Bank, and SBI achieved their 52-week highs. Furthermore, 60 stocks hit the upper circuit, while 29 fell to the lower circuit, indicating a stronger bullish activity across the broader market.
Banking stocks including PNB, IndusInd, Canara Bank, and Axis Bank saw increases of 2 percent, while IDFC First Bank, HDFC Bank, and AU Small Finance climbed by 1 percent.
In the midcap sector, HUDCO led the gainers with a rise of 3-4 percent, followed by SAIL, Paytm, Dixon Tech, and Suzlon. Conversely, M&M Financial, Coromandel International, Mphasis, and Swiggy saw declines.
Within the smallcap segment, Natco Pharma and Reliance Power surged by 6-7 percent, while Nuvama, PGEL, PNB Housing, and MCX increased by 3-5 percent. On the downside, MRPL, CreditAccess, Lal Path Labs, and Star Health dropped by 1-3 percent.
The article was published on November 26, 2025.
