Stock Market Extends Winning Streak To Seventh Day; Sensex, Nifty End Higher On IT, Auto Push

Indian equity markets continued their upward march for the seventh consecutive session on Wednesday, driven by strong buying interest in information technology, automobile, and pharmaceutical stocks. The benchmark indices ended the day firmly in the green, although the banking sector, which had been leading recent gains, saw some profit-taking.

The BSE Sensex closed 520.90 points higher at 80,116.49, up 0.65 per cent, while the NSE Nifty added 161.70 points, or 0.67 per cent, to settle at 24,328.95. Market breadth remained positive with 1,989 stocks advancing, 1,832 declining, and 141 ending flat.

"Fundamental factors are favourable. President Trump’s message that he has no intention of firing the Fed chief has calmed the US markets. His remarks on Chinese tariffs indicate a potential easing of US-China tensions. The sustained buying by FIIs is a strong support to Indian markets," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Foreign institutional investors (FIIs) have played a crucial role in sustaining the rally, with continued inflows providing solid support to domestic equities. In addition, upbeat quarterly results from several banking and financial institutions have lifted investor confidence.

Broader Market Update

The broader market exhibited strength in Tuesday’s trading session, with mid- and small-cap indices closing firmly in the green. The Nifty Midcap 100 index advanced over 1 per cent, while the Smallcap 100 posted a more modest gain of 0.4 per cent. Despite the recent recovery, both indices remain in negative territory for the year, down 5 per cent and 9 per cent respectively on a year-to-date basis.

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Sectorial Update

Sectorally, the spotlight was on the Nifty IT index, which outperformed with a sharp 4 per cent jump. The rally was largely driven by HCL Technologies, which soared 8 per cent after posting March quarter results that met market expectations, providing a boost to investor sentiment in the tech space.

The Nifty Auto index also maintained its upward momentum, rising nearly 2 per cent, buoyed by gains in marquee names like Maruti Suzuki, Mahindra & Mahindra, and Tata Motors. Meanwhile, the Pharma and Realty indices posted healthy gains of around 1 per cent each, adding to the overall positive breadth in the market.

However, not all sectors participated in the rally. The Nifty Bank and PSU Bank indices both slipped 0.6 per cent, dragged down by profit booking after recent gains. Analysts noted that while the overall market tone remains optimistic, sector rotation and selective profit-taking are likely to continue in the near term.

The strong showing in the broader market underscores renewed investor interest beyond frontline stocks, particularly in sectors that are beginning to show earnings resilience and growth potential.

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