Indian stock markets opened on a positive note on Wednesday, boosted by strong gains in auto and pharma sectors as investors awaited the Reserve Bank of India’s Monetary Policy Committee (MPC) decisions.
As of 9:24 am, the S&P BSE Sensex rose 58.51 points to 80,326.13, while the NSE Nifty50 added 25.65 points to 24,636.75.
Market Highlights
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Top Sensex Gainers:
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Sun Pharma: +2.35%
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Trent: +1.33%
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Mahindra & Mahindra: +1.23%
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Tech Mahindra: +1.14%
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Reliance Industries: +0.83%
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Top Sensex Losers:
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Eternal: -1.06%
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Bajaj Finance: -1.03%
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Bajaj Finserv: -0.71%
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Bharti Airtel: -0.46%
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Asian Paints: -0.44%
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Sectoral Performance
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Nifty Media: +1.69%
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Nifty Pharma: +1.13%
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Nifty Realty: +1.04%
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Nifty Healthcare: +0.98%
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Nifty Auto: +0.72%
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Nifty Oil & Gas: +0.59%
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Nifty Consumer Durables: +0.48%
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Nifty Metal: +0.30%
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Nifty Private Bank: +0.28%
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Nifty FMCG: +0.26%
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Nifty Financial Services: +0.18%
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Nifty IT: +0.11%
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Nifty PSU Bank: Flat
Midcap and smallcap indices also saw gains, with Nifty Midcap100 up 0.52% and Nifty Smallcap100 up 0.28%, while India VIX fell 0.97%.
Expert Take
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, highlighted that market focus remains on RBI’s monetary policy. He stated:
"Banking stocks are likely to draw attention. A pause by the MPC, which seems most probable, will impart resilience to banking stocks. While short-term volatility may persist due to FII selling, long-term investors should focus on systematic investment in high-quality largecaps."
