MUMBAI, Oct 29: Indian stock markets ended Wednesday in positive territory, driven by global cues, hopes of a US Federal Reserve rate cut, and fresh foreign fund inflows.
The 30-share BSE Sensex gained 368.97 points (0.44%) to close at 84,997.13, while the 50-share NSE Nifty rose 117.70 points (0.45%) to 26,053.90.
During the session, Sensex peaked at 85,105.83, with 2,482 stocks advancing, 1,668 declining, and 175 unchanged.
Major Sensex gainers included Adani Ports, NTPC, Power Grid, HCL Tech, Tata Steel, Sun Pharma, Trent, and Asian Paints, while Bharat Electronics, Eternal, Mahindra & Mahindra, and Maruti lagged. Midcap and smallcap indices climbed 0.68% and 0.56%, respectively.
Sectorally, power (2.72%), utilities (2.61%), oil & gas (2.55%), metal (1.68%), energy (1.51%), services (1.33%), commodities (1.16%), and capital goods (1.01%) saw gains, while autos were the only lagging sector.
Asian markets also ended higher, with South Korea’s Kospi, Japan’s Nikkei 225, and Shanghai’s SSE Composite posting gains.
European markets were mostly positive, while US indices closed higher on Tuesday.
Analysts noted that optimism over global trade developments, potential progress in India-US trade talks, and expectations of a 25-bps Fed rate cut supported investor sentiment.
However, markets will closely watch the Fed’s commentary for indications of further rate reductions.
Foreign Institutional Investors (FIIs) bought equities worth Rs 10,339.80 crore on Tuesday.
Brent crude rose 0.23% to USD 64.55 a barrel. The previous day, Sensex had fallen 150.68 points and Nifty dropped 29.85 points.
Overall, strong global cues, supportive trade dynamics, and rate cut expectations fueled Wednesday’s market rally. (PTI)
