Indian benchmark equity indices closed significantly higher on Wednesday, driven by robust buying in information technology, banking, financial, and realty stocks. The Sensex surged by 790.54 points, or 1.04%, to finish at 76,991.22, while the Nifty rose by 197.55 points, or 0.83%, to settle at 24,021.65. Market experts noted that the immediate resistance for Nifty is at the 24,100 level.
Market sentiment remained positive as investors showed interest in key sectors, especially IT and financial services, resulting in substantial gains for the benchmarks. Notable gainers in the Nifty pack included InterGlobe Aviation, Adani Enterprises, and Trent, which saw significant buying activity. The broader markets also closed in the green, with the Nifty MidCap index up by 0.10% and the Nifty SmallCap index rising by 0.39%.
Sectoral indices mirrored the upbeat market sentiment, with Nifty IT and Nifty Realty indices outperforming the broader market by gaining over 2% each during the session. Banking stocks, including the Nifty Bank and Nifty Private Bank indices, also recorded strong advances. However, sectors like Nifty Auto and Nifty Metal witnessed declines, emerging as the worst performers of the day due to profit-booking and subdued investor interest.
Despite weakness in certain sectors, the strong performance of IT, banking, and real estate stocks helped offset losses, leading the benchmark indices to close the session with significant gains. This reinforced positive sentiment in the domestic equity markets.
