Sensex jumped over 500 points (0.65%) to 82,745, while Nifty 50 traded over 150 points (0.58%) higher, rising above the 25,550 level.
Bharti Airtel, Titan Company, Axis Bank and others were the top gainers on the Sensex, rising nearly 1% each. Maruti Suzuki, IndiGo, Kotak Mahindra Bank and others were among the losers who traded with marginal losses.
The gains were led by IT stocks, which recorded gains after five consecutive sessions of losses driven by AI worries. At 9.20 am, The Nifty IT index was up nearly 3% to 30,839.05, with Persistent Systems, Mphasis and Coforge leading gains by rising more than 3% each.
All sectoral indices are currently in the green, with metals also recording a strong rise. The Nifty Metal index gained more than 1%.
Live Events
This comes a day after Indian stock markets crashed on Tuesday after two consecutive days of gains. Sensex fell nearly 1,069 points (1.28%) to close at 82,225.92, and Nifty 50 declined more than 288 points (1.12%) to end the session at 25,424.65. This was led by the sharp plunge in IT stocks, after AI startup Anthropic said its Claude Code tool could be used to modernise a legacy programming language that runs on IBM systems, retriggering worries about AI-led disruption in the sector.
Market analysts advised caution after yesterday’s fall. “Markets remain highly sensitive to geopolitical risks and sector-specific pressures, driving investors toward defensive, domestically focused segments,” said Vinod Nair, Head of Research, Geojit Investments Limited.Wall Street gains
US stock markets ended yesterday’s session higher, as tech stocks rebounded after a sharp decline earlier. The tech-heavy Nasdaq Composite gained over 236 points (1.05%) to 22,863.68, while the Dow Jones Industrial Average rose 370 points (0.76%) to 49,174.50. The S&P 500 index meanwhile gained 52.32 points (0.77%) to 6,890.07.
Crude rises
Crude prices have significantly increased, and are hovering near seven-month highs amid rising worries of a possible military conflict between US and Iran that would potentially disrupt supply. This comes before the two parties are set to hold talks tomorrow.
Brent futures rose 64 cents (0.9%) to trade at $71.41 per barrel, as seen at 9 am on Tuesday (IST). WTI futures rose 0.9%, or 59 cents, to $66.22 per barrel.
FII remain net sellers
Today’s rise in stock markets comes despite net selling by foreign investors. According to data on NSE, FII net sold equities worth Rs 102.53 crore earlier yesterday. However, domestic institutional investors remained net buyers, buying net equities worth Rs 3,161 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)