Stock market today: Sensex jumps over 360 points, Nifty 50 ends above 26,000 ahead of US Fed outcome - 10 key highlights

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, wrapped up on a positive note, in anticipation of the US Federal Reserve's interest rate decision, reflecting the upward movement of their global counterparts during Wednesday's trading session. A potential US-China trade agreement has improved market sentiment.

The Nifty 50 increased by 0.45% to reach 26,053.9, while the Sensex gained 0.44% to hit 84,997.13. Both major indices closed just under 1% from their all-time highs set in September 2024.

The market's optimism was fueled by major players like Reliance Industries, HDFC Bank, NTPC, Adani Ports, Power Grid, HCL Tech, and Tata Steel, which experienced gains of up to 3% during intraday trading.

Mid-cap and small-cap indexes saw increases of 0.6% and 0.4%, respectively.

Indian stock market: 10 key highlights from the day

1. Why did the market rise?

In addition to the US Federal meeting and the US-China trade agreement, analysts suggest that optimism regarding a possible US-India trade deal was a significant catalyst after US President Donald Trump suggested an impending agreement at the APEC Summit, enhancing foreign investor confidence. Positive global indicators, such as steady increases in US stocks and AI-driven surges in tech shares worldwide, further strengthened bullish sentiment.

"The domestic market ended on a strong note, supported by positive cues from Asian markets and improved clarity on global trade dynamics. Optimism over potential progress in India–US trade talks further lifted sentiment. Oil stocks led the rally as crude prices eased expectations of higher OPEC+ output, while metal stocks advanced amid firm commodity prices and supply constraints.

The upcoming Fed decision remains a key event for global markets; although a 25-bps rate cut is widely anticipated, investors will closely track its commentary for further rate cuts, which will guide the future market trajectory," said Vinod Nair, Head of Research, Geojit Investments.

2. Top gainers in the Nifty 50 index today

As many as 36 stocks ended higher in the Nifty 50 index, among which NTPC Ltd (up 2.90%), Adani Ports and Special Economic Zone Ltd (up 2.69%), Oil and Natural Gas Corporation Ltd (ONGC) (up 2.61%) and Power Grid Corporation of India Ltd (up 2.43%) ended as the top gainers.

3. Top losers in the Nifty 50 index

Shares of Dr Reddys Laboratories Ltd (down 2.40%), Coal India Ltd (down 2.16%), Bharat Electronics Ltd (BEL) (down 1.44%) and Eternal Ltd (down 1.18%) ended as the top losers.

4. Sectoral indices today

In sector performance, the Nifty Metal and Oil & Gas indices excelled, both climbing by almost 2%, whereas the Auto sector and certain banking stocks experienced slight profit taking.

5. Most active stocks in terms of volume

Tata Steel (516.11 lakh shares), Coal India (268.57 lakh shares), and Eternal (196.79 lakh shares) were the most active stocks in terms of volume on the NSE.

6. 179 stocks hit 52-week highs

As many as 179 stocks, including Amber Enterprises India, AU Small Finance Bank, Bank of Baroda, and Bank of India hit their 52-week highs in intraday trade on the BSE.

7. 78 stocks hit 52-week lows

Westlife Foodworld, and Cohance Lifesciences, were among the 78 stocks that hit their 52-week lows on the BSE.

8. Advance-decline ratio

Out of 4,335 stocks traded on the BSE, 2,482 advanced, while 1,668 declined. Some 185 stocks remained unchanged.

9. 4 stocks jump over 10% on BSE

Blue Dart Express, Five-Star Business Finance, Adani Green Energy and HP Adhesives jumped by more than 10% on the BSE.

10. Nifty 50's technical outlook

Hrishikesh Yedve, AVP Technical and Derivative Research at Asit C. Mehta Investment Intermediates, noted that the Nifty 50 began positively, experienced a period of narrow consolidation, and ultimately closed flat to negative at 24,635. The daily chart indicates that the Nifty 50 formed a red candle, which suggests a lack of strength.

The trend line support is currently positioned around 24,520, while the intermediate support is approximately at 24,340. On the higher side, immediate resistance is observed near 24,880, with the psychological barrier of 25,000 following. While the index stays below 25,000, the likelihood of continued weakness is high. Therefore, traders are encouraged to exercise caution.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.