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The NSE Nifty 50 trades at 23,467, up 88 points or 0.38 per cent, while the BSE Sensex gains 197 points to trade above 74,756.
India VIX, the market’s fear gauge, declined 1.42 per cent to around 19.01, suggesting some cooling in panic sentiment after Monday’s spike.
Market Updates Today: Indian benchmark indices extended gains in noon trade on Wednesday, with the Sensex rising over 330 points and the Nifty reclaiming the 23,500 mark, as broad-based buying in metals, banks, FMCG and mid-caps lifted market sentiment after a volatile start to the session.
At around 12:05 pm, the BSE Sensex was trading at 74,892, up 333 points or 0.45 per cent, while the NSE Nifty 50 gained 133 points to 23,517, up 0.51 per cent.
The rally was supported by strong participation across broader markets. Nifty Midcap 100 surged 1.21 per cent, Smallcap 100 rose 0.78 per cent and Microcap 250 climbed 1.21 per cent, indicating improving risk appetite despite persistent global uncertainty.
Metal stocks continued to lead the rally. The Nifty Metal index jumped 2.86 per cent, emerging as the top sectoral gainer, driven by strong buying in Tata Steel and other metal counters. The sector is witnessing bargain hunting after recent corrections and optimism around domestic infrastructure demand.
Financial stocks also strengthened significantly during the session. Nifty Bank advanced 0.78 per cent, while the Private Bank index climbed over 1 per cent. Buying in HDFC Bank, Kotak Mahindra Bank and Axis Bank helped support the recovery in benchmark indices.
Consumer-oriented sectors also remained strong. Nifty FMCG rose 0.83 per cent and Consumer Durables index gained 1.42 per cent, led by a sharp rally of nearly 5 per cent in Asian Paints.
Oil & gas, chemicals, cement and broader financial services indices also traded firmly in positive territory, reflecting broad participation in the rebound.
However, IT stocks continued to underperform. Nifty IT was down 0.49 per cent as investors remained cautious about global technology spending trends and sustained foreign institutional investor selling in export-oriented technology names.
Among Sensex stocks, Asian Paints emerged as the top gainer with a rise of nearly 5 per cent, followed by Adani Ports, Tata Steel, BEL and Kotak Mahindra Bank. On the losing side, Power Grid, M&M, NTPC and TCS remained under pressure.
Despite the rally, volatility remained elevated. India VIX was still up nearly 1 per cent at 19.45, suggesting traders remain cautious due to ongoing geopolitical tensions in West Asia, high crude oil prices and pressure on the rupee.
The sharp intraday rebound from morning lows indicates investors are selectively accumulating fundamentally strong sectors after Monday’s steep selloff. However, analysts believe near-term market direction will continue to depend on global risk sentiment, crude oil movement, foreign fund flows and currency stability.
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