Sensex Surges 850+ Points, Nifty Reclaims 24,200 as IT, Metal Stocks Lead Rally

Stock Market Today: Sensex Jumps Over 850 Points, Nifty Reclaims 24,200 on IT, Metal Rally

Indian equity benchmarks traded sharply higher in morning trade on Wednesday, with the Sensex surging more than 850 points and the Nifty 50 climbing above the 24,200 mark. Broad-based buying in information technology, metal and FMCG stocks, coupled with positive global cues, boosted investor sentiment ahead of the US Federal Reserve’s policy announcement later in the day.

At around 10:20 am, the BSE Sensex was up 852.27 points (1.11%) at 77,618.19, while the Nifty 50 gained 246.40 points (1.03%) to trade at 24,231.75.

IT Stocks Lead Gains

Technology stocks remained the biggest drivers of the rally, with the Nifty IT index climbing 2.69%. Buying was also seen in metal and FMCG counters, lifting the Nifty Metal index by 1.92% and the Nifty FMCG index by 1.52%.

Among the Sensex stocks, Infosys led the gains with a rise of 3.83%, followed by Hindustan Unilever (3.77%), Larsen & Toubro (2.99%), Tata Steel (2.55%), TCS (2.30%) and Bharti Airtel (2.24%). Banking heavyweights including HDFC Bank, ICICI Bank and Kotak Mahindra Bank also traded in positive territory.

On the other hand, BEL, Adani Ports, IndiGo, Power Grid, Sun Pharma and Axis Bank witnessed mild profit booking.

Broader Markets Stay Positive

The broader markets also traded firmly, indicating healthy participation beyond large-cap stocks. The Nifty Midcap 100 advanced 0.57%, while the Nifty Smallcap 100 gained 0.75%.

Meanwhile, the India VIX, which measures market volatility, declined 3.06% to 12.18, signalling easing investor anxiety.

Fed Decision in Focus

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said the market could eventually break out of its recent range-bound movement, supported by attractive valuations in several large-cap stocks.

He noted that foreign institutional investors (FIIs) are awaiting greater clarity on crude oil prices and the progress of the monsoon before making aggressive investments. According to him, the recent correction in semiconductor stocks in South Korea has also improved India’s relative appeal.

Vijayakumar expects the US Federal Reserve to keep interest rates unchanged but maintain a hawkish tone to underline its inflation concerns. While such an outcome is largely priced into the market, he said an unexpected rate hike could negatively affect emerging markets by encouraging global investors to shift funds toward US bonds.

Geopolitical Risks Remain

Ponmudi R, CEO of Enrich Money, said positive global cues supported expectations of a strong opening for Indian equities. However, he cautioned that geopolitical developments in the Middle East continue to remain a key risk for financial markets.

He noted that renewed military action involving US and Saudi forces against Iran-linked targets, along with reports of Iranian missile strikes on US military bases, has revived concerns over energy supply disruptions. As a result, WTI crude oil has rebounded to around $82 per barrel, reflecting a renewed geopolitical risk premium.

Technical Outlook

According to Anand James, Chief Market Strategist at Geojit Investments, the Nifty has managed to hold above the important support level of 23,891, keeping the possibility of further gains intact.

He said sustained trading above 24,100, or a decisive move beyond 24,220, would strengthen the case for an extension of the ongoing rally.