Markets Rally: Sensex Up 500 Points, Nifty Above 25,300 as Axis Bank, Bajaj Lead Gains

Markets Open Higher on India–EU FTA Optimism

Indian benchmark indices Sensex and Nifty opened higher on Wednesday, buoyed by optimism over the conclusion of the India–EU Free Trade Agreement (FTA) and largely supportive global cues. Around 11 am, the BSE Sensex was trading at 82,266.57, up 409 points or 0.5 per cent, while the NSE Nifty50 stood at 25,289.5, gaining 114.1 points or 0.45 per cent.

On the BSE, Axis Bank, Eternal and Adani Ports led the gainers’ pack. However, losses in Asian Paints, Maruti Suzuki and Infosys capped the benchmarks’ upside. The broader market continued to outperform, with the Nifty SmallCap 100 index advancing over 1 per cent and the Nifty MidCap 100 rising 0.6 per cent.

Among sectoral indices, Nifty Private Bank, Realty and Oil & Gas emerged as top performers, each climbing more than 1 per cent. Auto and PSU Bank stocks, meanwhile, remained under pressure.

Global Markets

Asian markets traded mixed on Wednesday. Japan’s Nikkei 225 declined 1.43 per cent, while South Korea’s KOSPI jumped 1.48 per cent. Australia’s S&P/ASX 200 hovered near the flatline with a negative bias.

US equity markets closed on a mixed note overnight. The S&P 500 extended its rally for a fifth consecutive session to hit a record close, rising 0.41 per cent to 6,978.60, supported by optimism ahead of megacap earnings. The Nasdaq Composite gained 0.91 per cent, while the Dow Jones Industrial Average slipped 0.83 per cent amid mixed corporate results and a sharp selloff in health insurer stocks.