Indian equity benchmark indices saw gains on Wednesday, driven by robust buying in FMCG, banking, financial, and realty sectors. The Nifty rose by 140.10 points to 24,005.85, while the Sensex climbed 443.97 points to 76,922.64. Analysts noted that the 24,100–24,200 range, aligned with the 100-day Exponential Moving Average, acts as a key resistance level for the Nifty.
Market experts highlighted that breaking above this range could strengthen bullish momentum, potentially pushing the index towards 24,400. Conversely, the 23,900–23,800 zone, supported by the 20 and 50-day Exponential Moving Averages, remains a crucial support area. Top gainers among Nifty constituents included Eternal, Adani Enterprises, and Nestle India, contributing to the index’s upward movement.
The broader market also ended positively, with the Nifty MidCap index up by 0.34% and the Nifty SmallCap index by 0.36%. Notably, the Nifty Realty index led the sectoral gains, followed by Nifty FMCG and Nifty Auto indices. However, Nifty IT, Nifty Metal, and Nifty Pharma indices showed weaker performance compared to the overall market.
Market analysts observed that despite weakness in IT, metal, and pharmaceutical stocks, domestic equities continued their upward trend. Positive sentiment was driven by various factors, including expectations of a US-India trade deal, reduced Middle East tensions, and stable oil prices. The markets entered the second half of CY26 on an optimistic note, with key sectors showing resilience amid global uncertainties.
