Indian Stocks Rally on Global Optimism: Investor Sentiments Boosted

Indian equity markets opened higher, propelled by gains in US indices, bolstering investor sentiment globally. Sensex and Nifty recorded slight upticks, with investors hopeful due to fiscal and economic positives. Stocks of Tata Steel and SBI led gains, while tech shares lagged. Experts highlight robust economic conditions supporting this upward trend.

On Wednesday, Indian equity benchmarks commenced on a high, bolstered by bullish trends in global markets with US indices extending their rally, consequently uplifting investor sentiment globally.

At the trading session's start, BSE Sensex increased by 29.56 points, or 0.04 percent, standing at 75,330.82, while the NSE Nifty50 climbed 19.70 points, or 0.09 percent, at 22,854.00. A total of 1,767 stocks advanced as opposed to 523 declines, with 117 unchanged.

NSE's major gainers included Tata Steel, JSW Steel, Bajaj Finserv, SBI, and Bharti Airtel, whereas significant decliners involved TCS, HCL Technologies, Tech Mahindra, Cipla, and Trent. Tuesday saw a strong rally in both indices, instilling confidence among investors.

According to market experts, buoyant investor sentiment in Indian markets is fueled by positive trends in international trading, despite existing uncertainties like US trade tariffs. Analysts surmise that fiscal spending momentum, easing financial conditions, and an improving economic and corporate earnings outlook are crucially supporting the markets.

Banking and market expert Ajay Bagga remarked, "In India, reasonable valuations, fiscal spending momentum, easing financial conditions via RBI's concerted actions, bolstered economic prospects, and FPI inflows present a strong market boost."

Varun Aggarwal, MD of Profit Idea, noted, "Nifty Open Interest data indicates strong resistance at 23,000 to 23,400 levels, with support at 22,300. A bullish candle formed, breaching critical 22,700-22,800 resistance, suggesting a continued positive short-term trend toward 23,100-23,200."

The previous trading session saw the Sensex jump by 1,131.31 points, or 1.53 percent, reaching a one-month high at 75,301.26. Similarly, Nifty 50 rose by 325.55 points, or 1.45 percent, closing at 22,834.30.

(With inputs from agencies.)