Sensex, Nifty Rally for Second Day as Oil Prices Dip

Indian equity markets continued their upward momentum for the second consecutive session on Wednesday, driven by strong buying in media and technology stocks. The rally was supported by a drop in crude oil prices and a de-escalation in Middle East tensions following a ceasefire between Iran and Israel.

The BSE Sensex surged 700.4 points to close at 82,755.51 (up 0.85%), while the Nifty 50 rose 200.4 points to finish at 25,244.75 (up 0.8%).

Top gainers included Titan Company, M&M, Infosys, Power Grid, TCS, and Bharti Airtel, with gains up to 3.6%. However, BEL, Kotak Mahindra Bank, and Axis Bank lagged behind, dropping up to 3%.

Broader markets also showed strength:

• Nifty MidCap Index gained 0.44%
  
  

• Nifty SmallCap Index jumped 1.5%
  
  

Among sectoral indices, Nifty Media led the charge (+1.99%), followed by Nifty IT (+1.64%) and Nifty Consumer Durables (+1.43%).

According to Vinod Nair of Geojit Financial Services, improved sentiment is tied to easing global tensions and softer oil prices. Domestic factors like a positive monsoon forecast and moderating inflation are also aiding recovery.

Meanwhile, the Indian Rupee remained flat around 86.10, after gaining 0.75 in the previous session. Analysts expect it to trade within a range of 85.70–86.25, ahead of key US economic data releases.

[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]