The S&P BSE Sensex climbed 0.7%, or 575.45 points, to close at 82,605.43, while the NSE Nifty 50 added 0.71%, or 178.05 points, to close at 25,323.55.
This is how analysts read the market pulse:
The domestic market rose slowly after two days of selling and a dovish comment from the Fed chairman on interest rates and considering an end to quantitative tightening boosted sentiment in the global market, said Vinod Nair, head of research at Geojit Investments.
“US 10-year yields fell while the rupee rose, indicating a momentum shift from financials to emerging markets like India, which could follow the domestic market trajectory in the short to medium term. Real estate outperformed on the back of an easing of the interest rate cycle and attractive valuation, while positive global cues supported IT and Metals indices,” Nair said.
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American markets
Wall Street moved higher and gold resumed its gains on Wednesday as earnings season got underway and dovish comments from US Federal Reserve Chairman Jerome Powell helped investors look past trade tensions between the United States and China. All three major U.S. stock indexes gained ground in a broad rally driven by hopes for rate cuts and solid corporate earnings results, while crude oil prices recovered and gold hit new highs as Washington and Beijing ramped up their rhetoric. ongoing tariff dispute. President Donald Trump said he is considering cutting some trade ties with Beijing in response to China not buying U.S. soybeans.
European markets
European shares rose after positive results from France’s LVMH sparked a rally in luxury goods, easing concerns that slowing global economic growth and ongoing tariff wars are dampening business health.
The pan-European STOXX 600 index rose 0.62%, while the broad European FTSEurofirst 300 index added 14.36 points, or 0.64%.
Technical view
Technically, the Nifty looks set to retest the trendline hurdle near 25,450 and a decisive break above this level could propel the index towards 25,650 and beyond, said Ajit Mishra, SVP, Research at Religare Broking.
“We maintain a bullish bias and continue to advocate a ‘buy on dips’ approach as long as the index remains above the 25,000 support zone. Sector rotation is currently in favor of banking, metals and auto, while defensive sectors such as FMCG and pharmaceuticals may continue to underperform in the near term, so participants should adjust their positions accordingly,” said Mishra.
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Most active stocks in terms of turnover
HDFC Bank (Rs 2,283 crore), Persistent System (Rs 1,966 crore), RIL (Rs 1,499 crore), ICICI Lombard (Rs 1,425 crore), Tata Communications (Rs 1,377 crore), TCS (Rs 1,271 crore) and ICICI Bank (Rs 1,254 crore) were among the most active shares on BSE in terms of value. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (shares traded: Rs 76.40 crore), Bank of Maharashtra (shares traded: Rs 9.56 crore), YES Bank (shares traded: Rs 9.19 crore), Adani Power (shares traded: Rs 6.45 crore), Suzlon Energy (shares traded: Rs 5.67 crore), Eternal (shares traded: Rs 3.08 crore) and Reliance Power (shares traded: Rs 2.89 crore) was one of the most actively traded stocks on NSE by volume.
Stocks that show buying interest
Shares of ICICI Lombard, Bank of Maharashtra, Persistent System, Motherson Sumi Wiring India, CESC, Ola Electric Mobility and Poonawalla Fincorp were among the stocks that witnessed strong buying interest from market participants.
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52 Week High
More than 149 stocks hit their 52-week highs today, while 137 stocks fell to their 52-week lows. Bajaj Finance and Eternal were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that witnessed significant selling pressure included SKF India, Tata Investment, BLS International Services, CE Info Systems, JK Cement, Bikaji Foods International and Cyient.
Sentiment meter bullish
Market sentiment was bullish. Of the 4,326 shares traded on the BSE on Wednesday, 1,659 shares witnessed a decline, 2,503 a rise, while 164 shares remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)
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