Benchmark stock market indices closed higher on Wednesday, retaining the rally it witnessed in the afternoon session, buoyed by IT stocks over positive global sentiment, particularly in the US.
The S&P BSE Sensex gained 595.19 points to close at 84,466.51, while the NSE Nifty50 added 180.85 points to end at 25,875.80.
Vinod Nair, Head of Research, Geojit Investments Limited, said that global equities rallied on renewed risk appetite, driven by optimism over the anticipated resolution of the U.S. government shutdown and growing expectations of early Fed cuts amid signs of a cooling U.S. labour market.
“Emerging markets outperformed, reflecting the improvement in global sentiment. Indian indices mirrored this strength, with large-cap stocks leading gains, particularly in the auto, IT, and pharma sectors. Supportive domestic macro fundamentals—including easing CPI and WPI inflation, a strong GDP outlook, and healthy H2 earnings expectations—continue to underpin positive market momentum,” he added.