Indian Stock Markets Close Higher as Inflation Eases and Global Cues Turn Positive
The Indian stock markets closed higher on Wednesday, rebounding after two consecutive sessions of losses, as upbeat global cues and easing domestic inflation lifted investor sentiment.
The 30-share BSE Sensex gained 304.32 points, or 0.38%, to finish at 80,539.91, after climbing as much as 448 points to an intraday high of 80,683.74. The NSE Nifty 50 rose 131.95 points, or 0.54%, to settle at 24,619.35.
Indian Stock Markets See Broad-Based Buying Across Sectors
Buying interest was visible across auto, metal, and pharmaceutical stocks, while mid- and small-cap shares outperformed the benchmarks. Market breadth remained positive, with more stocks advancing than declining on the BSE.
Investor sentiment strengthened after India’s retail inflation sharply eased to an eight-year low of 1.55% in July, aided by lower food prices. This domestic boost came alongside a global rally triggered by US inflation data showing consumer prices rising less than expected, fuelling expectations of interest rate cuts by the US Federal Reserve.
Top Gainers and Losers on Sensex and Nifty
Leading the Sensex gainers were Bharat Electronics, Eternal, Mahindra & Mahindra, Kotak Mahindra Bank, Tata Motors, and Power Grid. On the losing side, Adani Ports, ITC, UltraTech Cement, and Titan closed in the red. The Nifty Bank index ended 0.25% higher.
The Indian rupee also appreciated, settling at around ₹87.49 per US dollar, supported by a weaker greenback and a decline in crude oil prices.
Disclaimer:
The information provided in this blog is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. Stock market investments are subject to market risks. Past performance is not indicative of future results. Readers are advised to consult a qualified financial advisor before making any investment decisions. The author and publisher are not liable for any losses or damages arising from the use of this information.
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