Indian share markets opened higher on Wednesday, supported by strong global cues
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MUMBAI — Indian share markets opened higher on Wednesday, supported by strong global cues.
The Sensex rose 260 points, or 0.31 per cent, to 84,847, while the Nifty gained 88 points, or 0.34 per cent, to trade at 25,973 during early trading session.
"The Nifty continues to remain range-bound, with resistance placed around 26,000–26,050 and near-term support at 25,750–25,800 ; a zone that may attract accumulation if tested," analysts said.
"Fresh long positions can be considered once the Nifty convincingly crosses 26,100–26,130, while keeping a close watch on global cues and key technical levels," market watchers added.
Global markets have been rallying for the third straight day as investors grow optimistic about a possible US Federal Reserve rate cut in December 2025.
This positive sentiment helped lift domestic equities as well.
Several major stocks led the gains on the Sensex, including Tata Motors PV, Trent, Adani Ports, Tata Steel, L&T, Ultratech Cement, Infosys, Maruti Suzuki, ICICI Bank and Tech Mahindra.
On the other hand, Bharti Airtel, Hindustan Unilever, and TCS were the only stocks that declined in early trade.
Broader markets also edged higher. The Nifty MidCap index climbed 0.53 per cent, while the Nifty SmallCap index advanced 0.79 per cent -- showing strong interest from investors across the board.
Among sectors, metals were leading the market rally. The Nifty Metal index jumped 1.7 per cent.
PSU banks, IT, financial services, and private banks also saw gains of up to 0.8 per cent, contributing to the overall positive market mood.
Analysts said that the best strategy for retail investors is to refrain from trading and slowly accumulate fairy-valued high quality growth stocks which will be available at attractive valuations due to heightened volatility.