The midday session on Wednesday witnessed the Sensex surging 666.18 points to 73,656.11, marking a 0.91 per cent increase amidst challenging global economic conditions.
Adani Ports led the pack on the NSE with a 5.00 per cent gain and a trading volume of 27,63,648 shares. Power Grid and Mahindra & Mahindra also showed strong performances, rising 4.43 per cent and 4.41 per cent respectively, indicating strength in the infrastructure and automotive sectors.
Despite ongoing global trade tensions due to recent tariff hikes on Canada, Mexico, and China, the market maintained its positive momentum. FIIs withdrew ₹3,405 crore, but DIIs offset this with investments worth ₹4,851 crore.
In terms of sectors, IT and metal stocks drove gains while financial stocks faced challenges. The Nifty Bank index saw a marginal 0.45 per cent increase, while the Nifty Financial Services index rose by 0.13 per cent.
However, some key financial stocks experienced downward pressure. Bajaj Finance was the top loser, declining by 2.86 per cent, followed by HDFC Bank with a 0.92 per cent drop. IndusInd Bank and Grasim also saw minor losses.
Market breadth remained positive, with 3,156 advances against 758 declines on the BSE. Notably, 49 stocks hit 52-week highs while 181 touched 52-week lows. Circuit breakers were active, with 315 stocks in the upper circuit and 182 in the lower circuit.
The Nifty Next 50 index showed robust growth at 2.38 per cent, while the Nifty Midcap Select index surged by 2.91 per cent, indicating broader market participation beyond large-cap stocks.
Analysts recommend maintaining cautious optimism, with key support levels for the Nifty seen at 22,000 and resistance around 22,300.
As trading progresses, investors are closely monitoring global economic indicators and potential market-moving developments.
