Markets extended their three-session recovery into midday trade on Wednesday, with the rising 201.75 points or 0.86 per cent to 23,782.90 and the BSE climbing 694.39 points or 0.91 per cent to 76,765.23, as of 12.51 pm. Both indices have built notably on their morning gains since opening — the Sensex had opened at 76,367.55 against Tuesday’s close of 76,070.84, while the Nifty opened at 23,632.90 against a previous close of 23,581.15.
Information technology stocks were the standout performers in midday trade, reversing their early-session weakness to lead sectoral gains. Infosys was the top gainer on the Nifty 50, rising 4.50 per cent to ₹1,288.40 on volumes of over 74 lakh shares worth ₹94,586 lakh. Tech Mahindra advanced 4.13 per cent to ₹1,397.20, HCL Technologies gained 3.93 per cent to ₹1,373.00, and TCS rose 3.13 per cent to ₹2,466.50. Jio Financial Services also featured among the top gainers, adding 3.89 per cent to ₹246.85 on volumes exceeding 95 lakh shares.
On the losing side, Coal India was the biggest decliner, falling 2.61 per cent to ₹450.20 on volumes of over 40 lakh shares. NTPC slipped 1.27 per cent to ₹378.50, Cipla shed 0.90 per cent to ₹1,270.40, HDFC Bank declined 0.62 per cent to ₹840.15, and Hindustan Unilever eased 0.47 per cent to ₹2,148.00. Power and energy stocks broadly remained under pressure, while private sector banking continued to face selling interest.
Market breadth on the BSE was decisively positive. Of 4,230 stocks traded, 3,160 advanced and 901 declined, with 169 remaining unchanged. Forty-six stocks hit fresh 52-week highs, while 174 touched 52-week lows. A total of 151 stocks were locked in upper circuits against 124 in lower circuits.
The Federal Reserve’s two-day policy meeting concludes later Wednesday, with markets widely anticipating rates to be held at 3.5–3.75 per cent. The outcome is expected to set the tone for evening trade and the next session. Global cues remained broadly supportive — US markets extended their recovery overnight, while Asian indices, including Japan’s Nikkei and South Korea’s KOSPI, traded higher earlier in the session.
With roughly three hours left in the trading day, the Nifty’s next technical resistance is placed in the 23,800–24,000 range, a level analysts said could come into play if buying momentum holds. Support for the index lies in the 23,325–23,512 zone. The Sensex faces resistance around 76,400–76,500, though the index has already surpassed that band in midday trade, suggesting near-term bullish momentum.