Benchmark indices rallied sharply on Wednesday, led by strong buying in heavyweight stocks and earnings-driven momentum, even as rising oil prices capped further gains. The BSE Sensex surged over 1,095 points, while the Nifty 50 climbed 339 points from the previous close.
Sensex climbed 897.85 pts or 1.17 per cent to 77,784.76 at 1.45 pm, Nifty 50 was up 272.30 pts or 1.13 per cent to 24,268.
Gains were primarily driven by stock-specific action following quarterly earnings announcements, with investors reacting positively to corporate results across sectors. However, the upside remained limited amid concerns over rising crude oil prices after reports that the US may extend its blockade of Iranian ports.
Top gainers & losers today
Among the top movers in the Nifty 50, ITC, Maruti Suzuki, Tech Mahindra, Coal India and M&M led the gainers, while IndiGo, Dr Reddy’s Laboratories, JSW Steel and ICICI Bank were among the laggards.
Market breadth remained firmly positive, with 2,014 stocks advancing out of 3,288 traded on the NSE, while 1,167 declined and 107 remained unchanged. As many as 125 stocks touched their 52-week highs, while 13 hit 52-week lows. Additionally, 93 stocks were locked in upper circuit limits and 45 in lower circuits, indicating strong stock-specific action.
Broader markets also saw buying interest, with smallcap stocks outperforming midcaps, rising around 1 per cent. On the sectoral front, most indices traded in positive territory, barring media and consumer durables. Realty and FMCG stocks led the gains, each advancing over 2 per cent.
In terms of activity, Vodafone Idea, Eternal, JP Power and Bandhan Bank were among the most actively traded stocks by volume during the session.
Midcap & smallcap movers
Within the midcap space, Godfrey Phillips, Aditya Birla Capital, Vodafone Idea, Phoenix Mills and IndusInd Bank gained between 4 per cent and 6 per cent. On the other hand, Lenskart, Swiggy, JSW Energy, BHEL and Blue Star declined between 2 per cent and 3 per cent.
In the smallcap segment, Bandhan Bank, Devyani International, GRSE, RBL Bank and GE Ship rallied sharply, gaining between 5 per cent and 13 per cent.
Meanwhile, Cohance, Pine Labs, Tata Chemicals and Meesho fell in the range of 2 per cent to 5 per cent.
In addition, shares of Emmvee, CEAT, GoDigit and Bandhan Bank reacted to Q4 numbers . IOB, Granules India, Adani Power, Bajaj Finance, Waaree Energies, Vedanta, and more will remain in focus due to Q4 results today.
Overall, the market rally was underpinned by earnings optimism and broad-based participation, although global cues and oil price movements continue to remain key monitorables.