The Indian stock market closed higher for the sixth consecutive session on Wednesday, September 10, as tech stocks continued to lead the charge amid increasing hopes of a US Fed rate cut, while expectations of a resumption of trade talks between India and the US lifted broader sentiment and triggered a rally in export-oriented stocks, especially in textile counters.
Against this backdrop, The Nifty 50 rose 0.42% to close at 24,973, while the S&P BSE Sensex advanced 323 points, or 0.40%, to 81,101. Broader markets also ended higher, with the Nifty Midcap 100 and Nifty Smallcap 100 gaining 0.93% and 0.73%, respectively.
Sector-wise, Nifty IT emerged as the top gainer, rising 2.63%, followed by Nifty PSU Bank and Nifty Realty, which added 2.09% and 1.13%, respectively. On the losing side, Nifty Auto was the top laggard, slipping 1.28%, followed by Nifty Media and Nifty Consumer Durables, which declined 0.64% and 0.30%, respectively.
(more to come)