Equity benchmarks maintained strong gains in mid-session trade on Wednesday, supported by positive global cues and easing crude oil prices amid optimism around U.S.–Iran negotiations.
At around 12.45 pm, the BSE Sensex was up 1,253.21 points, or 1.63 per cent, at 78,100.78, while the Nifty 50 rose 388.25 points, or 1.63 per cent, to 24,230.90. The indices had opened sharply higher and sustained momentum through the morning session, nearing key resistance levels highlighted by analysts.
The rally remained broad-based, with 3,551 stocks advancing out of 4,393 traded on the BSE, while 704 declined. As many as 149 stocks touched their 52-week highs, compared with 31 hitting 52-week lows, indicating strong market breadth.
Among Nifty50 constituents, InterGlobe Aviation (IndiGo) led the gains, rising ₹4,640.00, up 4.81 per cent. Eternal Ltd gained ₹245.31, up 3.85 per cent, while Larsen & Toubro advanced ₹4,099.90, up 3.68 per cent. Max Healthcare Institute rose ₹986.60, up 3.67 per cent, and Power Grid Corporation of India added ₹310.80, up 3.48 per cent.
On the downside, only three index stocks traded in the red. Dr. Reddy’s Laboratories declined ₹1,217.90, down 1.46 per cent. Bharti Airtel slipped ₹1,863.80, down 0.38 per cent, while ICICI Bank edged lower to ₹1,347.90, down 0.24 per cent.
Market sentiment remained supported by a sharp correction in crude oil prices, with easing geopolitical tensions reducing inflationary concerns for oil-importing economies such as India. Analysts noted that lower crude prices could help improve the current account balance and reduce input cost pressures across sectors.
Global cues were also supportive, with U.S. and Asian markets trading higher after softer U.S. inflation data strengthened expectations of a more accommodative monetary policy stance. The improved risk appetite has supported flows into equities globally.
On the technical front, the Nifty50 is approaching a key resistance zone in the 24,300–24,400 range. A sustained move above this band could open further upside toward 24,800–25,000 levels, while 24,000 remains an immediate support level. Market participants are closely tracking whether the index sustains above these levels during the session.
In commodities, gold prices traded in a narrow range with a cautious positive bias, while silver held firm supported by safe-haven demand. Crude oil prices remained under pressure following the recent decline from higher levels.
Currency markets showed relative stability, with the rupee trading near the ₹93 level against the U.S. dollar.
Analysts said focus will remain on global developments, crude oil price movements, foreign institutional investor activity and the ongoing earnings season, which is expected to drive stock-specific action in the near term.