Sensex-Nifty rise: Market strengthens on the back of FMCG and banking stocks
Mumbai: Indian equity benchmark indices closed higher on Wednesday, driven by strong buying in FMCG, banking, financial, and realty stocks.
The Nifty rose 140.10 points, or 0.59 percent, to close at 24,005.85, while the Sensex gained 443.97 points, or 0.58 percent, to close at 76,922.64.
Commenting on the Nifty technical outlook, experts said the 24,100–24,200 region, which coincides with the 100-day exponential moving average (EMA), will continue to act as an immediate resistance zone.
An analyst said, “A sustained breakout above this band will strengthen the bullish momentum and could pave the way for a move towards the 24,400 region.” “On the downside, the 23,900–23,800 zone remains a crucial support area, closely aligned with the 20- and 50-day exponential moving averages (EMA),” said a market expert.
Among Nifty companies, Eternal, Adani Enterprises, and Nestle India emerged as top gainers, helping lift the benchmark index.
The broader market also closed in the positive zone, with the Nifty Midcap index rising 0.34% and the Nifty Smallcap index rising 0.36%.
On the sectoral front, the Nifty Realty index led the gains, followed by the Nifty FMCG and Nifty Auto indices, as investors accumulated shares in these sectors. However, the Nifty IT, Nifty Metal, and Nifty Pharma indices underperformed the broader market, closing with comparatively weak gains or losses.
Analysts said domestic equities extended their upward momentum, with gains in core sectors outweighing weakness in information technology, metal and pharmaceutical stocks. “Domestic markets entered H2 of CY26 on a positive note as several headwinds began to ease, with the US-India trade agreement, easing tensions in the Middle East and oil prices emerging as the key drivers of the positive sentiment,” an analyst said.
