Markets rise for 2nd day on optimism over India-EU FTA
Propelled by buying in industrial, energy and metal stocks amid renewed optimism on the global trade front
Mumbai:Equity benchmark indices Sensex and Nifty rallied for the second straight session on Wednesday, propelled by buying in industrial, energy and metal stocks amid renewed optimism on the global trade front following the landmark India-EU FTA. Besides, gains in Bharat Electronics, Reliance Industries and Eternal stocks also supported equities, traders said.
The 30-share BSE Sensex jumped 487.20 points, or 0.60 per cent, to settle at 82,344.68. During the day, it soared 646.49 points or 0.78 per cent to 82,503.97. A total of 2,920 stocks advanced while 1,315 declined and 138 remained unchanged on the BSE. The 50-share NSE Nifty surged 167.35 points or 0.66 per cent to end at 25,342.75.
"Apart from the continued rub-off from the India–EU FTA, positive global cues, including a weaker US dollar and supportive moves in global indices, helped bolster sentiment. "Short-covering and renewed buying interest across sectors added to the positive momentum, while company-specific triggers, including notable gains in select heavyweight stocks, further supported the upside," said Ajit Mishra, SVP, Research, Religare Broking Ltd.
From the 30-Sensex firms, Bharat Electronics surged nearly 9 per cent post its December quarter earnings. Eternal, Bajaj Finance, Power Grid, Trent, Mahindra & Mahindra and UltraTech Cement were the other major gainers.
Asian Paints dropped over 4 per cent after the firm reported a decline of 4.83 per cent in consolidated net profit at Rs 1,073.92 crore for the December quarter of FY26. Also, Maruti, Sun Pharma, Infosys and Bharti Airtel were major losers on the index.
