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Indian stock markets soared on Wednesday, led by gains in heavyweight tech stocks and positive global cues. The BSE Sensex climbed 594.24 points (0.75%) to 80,189.83, while the NSE Nifty rose 181.15 points (0.75%) to 24,348.40, buoyed by easing global trade war concerns and encouraging commentary from the US.
Tech majors drove the rally with HCL Tech jumping 6.45%, Tech Mahindra up 3.5%, and Infosys climbing 3% following solid Q4 numbers. The upward momentum mirrored gains in Wall Street indices, where the Dow surged over 1,000 points, amid optimism over reduced US-China trade tensions.
Markets cheered comments by US President Donald Trump, who clarified he has "no intention" of firing Fed Chair Jerome Powell and hinted at reduced tariffs on China, easing investor anxiety. US Treasury Secretary Scott Bessent added that high tariffs were "unsustainable," signaling possible de-escalation in the trade war.
These remarks helped calm global markets, sending Asian indices higher, including a 1.5% rally in key benchmarks across Japan and Hong Kong. Indian equities followed suit, further supported by robust foreign portfolio investor (FPI) inflows, which touched Rs 1,290 crore on Tuesday.
From a technical standpoint, Nifty continues to hold above its 200-day moving average (24,051), with next resistance seen at 24,858. Analysts maintain a bullish stance but caution investors about potential profit booking as indices approach overbought zones.
Disclaimer:
This article is intended for informational purposes only. Jobaaj Media does not provide financial advice. Readers should consult a certified investment advisor before making any investment decisions.
