Indian investors witnessed a substantial increase in wealth today as the market capitalization of BSE-listed firms surged by ₹3 lakh crore, reaching ₹492.50 lakh crore. This robust performance follows a strong rally in the US market, fueled by AI-driven forecasts from companies like Caterpillar and Palantir, alongside optimistic hopes for a resolution to Middle East tensions.
The benchmark Sensex advanced 406 points to close at 78,835, while the Nifty gained 9 points, settling at 24,624 in early trading. This positive momentum comes as the Reserve Bank of India's Monetary Policy Committee (MPC) meeting commences, with market participants keenly awaiting its decision.
Top Performers and Sectoral Gains
Among the Sensex constituents, several stocks posted significant gains. IndiGo, Bajaj Finserv, L&T, NTPC, and Trent were notable outperformers, with their shares rising by up to 2.23%. The broader market also reflected this upward trend, as 100 stocks hit their 52-week highs on the BSE.
Sector-wise, auto and capital goods shares were the primary drivers of the rally. The BSE Auto index jumped 923 points, and the BSE Capital Goods index climbed 410 points, indicating strong investor confidence in these sectors. Out of 19 BSE sectoral indices, 17 were trading in the green, underscoring the widespread positive sentiment.
Broader Market Indicators
- The Nifty Midcap 100 index rose 132 points to 63,623.
- The BSE Small Cap index gained 120 points, reaching 19,751.
- Market breadth remained positive, with 2218 stocks advancing against 839 declines out of 3249 traded shares.
- Approximately 96 stocks hit their higher circuit limits, compared to 62 shares reaching their lower circuits.
On the institutional front, foreign institutional investors (FIIs) were net buyers on Wednesday, injecting ₹2219 crore into equities. Conversely, domestic institutional investors (DIIs) sold shares worth ₹684.62 crore, according to provisional NSE data. This strong performance marks a recovery after both Sensex and Nifty closed lower on Tuesday, snapping a four-session winning streak amidst mixed global cues.