Mumbai: Indian stock markets ended Wednesday’s session near the day’s highs, supported by strong buying in IT and realty stocks, while investors remained cautious ahead of the US Federal Reserve’s policy decision.
The benchmark Nifty closed 0.83 per cent higher, gaining 196.65 points to settle at 23,777.80.
Similarly, the Sensex rose 0.83 per cent, or 633.29 points, to end at 76,704.13.
Commenting on Nifty technical outlook, experts said that immediate support is placed near 23,650, followed by a stronger base around 23,350.
“Holding above these levels will be crucial to sustain the ongoing recovery momentum in the near term,” an analyst stated.
“On the upside, 23,850 remains the immediate hurdle. A decisive breakout above this level could extend the recovery toward the 24,000–24,300 zone, which aligns with a previous support-turned-resistance area,” an analyst mentioned.
Among the top performers in the Nifty pack were Eternal and Tech Mahindra, which saw strong gains during the session.
Broader markets outperformed the benchmark indices, indicating wider participation from investors.
The Nifty MidCap index surged 1.94 per cent, while the Nifty SmallCap index gained 1.70 per cent by the close.
On the sectoral front, the Nifty IT index emerged as the top gainer, supported by buying in technology stocks.
The Nifty Media and Nifty Realty indices also performed well. However, selling pressure was seen in the Nifty Metal and Nifty FMCG indices, which ended lower.
Investors are now closely watching the outcome of the US Federal Reserve’s policy meeting, which is expected later in the day.
The Federal Reserve is widely expected to keep interest rates unchanged. However, market participants will focus on the central bank’s commentary, especially for signals on how the ongoing tensions involving Iran could influence future rate decisions.
Analysts said that the market sentiment remained positive, but cautious, as global cues continue to play a key role in shaping investor confidence.
(IANS)
