The equity benchmarks recovered on Wednesday after the previous session’s decline, tracking gains in global markets ahead of the US Federal Reserve’s policy decision expected later in the night.
Hopes of progress on an India-US trade agreement also supported sentiment following recent comments by US President Donald Trump.
At around 12:40 pm, the Sensex rose 354.34 points or 0.42 percent to 84,982.50. The Nifty advanced 127.70 points or 0.49 percent to 26,063.90.
Power Grid Corporation of India, Adani Enterprises and Adani Ports were among the top gainers in the Nifty basket, rising up to 3 percent. Bharat Electronics and Bajaj Finance declined up to 2 percent in intraday trade.
Sensex up 400 pts, Nifty above 26,050: US Fed rate cut hopes among key factors behind market rise
Adani Total Gas and Adani Green Energy surged up to 14 percent after announcing their quarterly results. Shares of Adani Total Gas gained 9 percent to Rs 675. Other Adani Group stocks also traded higher.
Varun Beverages shares climbed nearly 7 percent to Rs 485.70 after reporting July-September quarter results for the calendar year. The company posted a consolidated net profit of Rs 741 crore for Q3, up 19.6 percent from Rs 619.6 crore a year earlier. Revenue from operations rose over 2 percent to Rs 5,047.7 crore.
Sectoral indices saw buying led by oil & gas and metal counters, both up over 2 percent.
Metal stocks gained sharply, pushing the Nifty Metal index over 2 percent to hit a record high of 10,824.70 in morning trade. The index has risen for six sessions in a row, gaining more than 4 percent during the period. The upmove comes amid expectations of easing trade tensions between the US and China and possible rate cuts by the US Fed.
Steel Authority of India Ltd (SAIL) jumped nearly 8 percent to Rs 142 ahead of its quarterly results. Hindustan Copper gained over 3 percent, while Hindustan Zinc and NMDC were up nearly 3 percent each. Vedanta, JSW Steel and Tata Steel added over 2 percent. Jindal Stainless and NALCO rose more than 1 percent.
Metal index hits record high ahead of Trump-Xi meet; SAIL, Hind Copper rise up to 8%
Oil & gas stocks firmed as Brent crude edged 0.08 percent lower to USD 64.35 a barrel. Softer crude prices are considered positive for India, which relies heavily on imports.
Broader markets also traded in the green. The Nifty Midcap 100 was up 0.4 percent and the Smallcap 100 gained 0.06 percent.
"Globally, stock markets continue to be bullish, aided by the sustained uptrend in the mother market US… Today, the market is likely to get another positive news from the Fed, which is expected to cut rates by 25 bps. More important than the rate decision will be the Fed commentary on quantitative tightening," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Foreign institutional investors bought shares worth Rs 10,339.80 crore on Tuesday, the highest single-day purchase since June 26, 2025, after net selling of Rs 55.58 crore on Monday.
“Volatility marked yesterday’s trade, but the key takeaway was strong FII buying, with net inflows lending confidence to the markets,” said Prashanth Tapse, Senior Vice President (Research), Mehta Ltd.
India’s volatility index fell 0.31 percent to 11.92, indicating lower market uncertainty and improved risk appetite among investors.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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