Domestic equity markets traded higher on Wednesday despite escalating tensions in West Asia and rising crude oil prices, supported by gains in FMCG, banking and energy stocks.
The BSE Sensex rose more than 400 points in early trade, climbing nearly 0.6 per cent to an intraday high of 74,356. The NSE Nifty also advanced about 100 points, gaining 0.46 per cent to reach 23,351.
Most sectoral indices traded in positive territory.
FMCG stocks led the rally, with the Nifty FMCG index rising 1.5 per cent. Nifty Chemicals, Oil & Gas and Private Bank indices also posted gains.
Metal stocks remained under pressure, with the Nifty Metal index falling more than 1 per cent. Mid and small-cap IT and telecom shares also traded lower, while auto, media and PSU banking stocks witnessed marginal declines.
Among Nifty 50 stocks, Hindalco Industries emerged as the biggest loser, slipping nearly 3 per cent. Adani Enterprises, NTPC, Tata Motors Passenger Vehicles and Eternal were also among the major laggards.
Analysts said geopolitical tensions and weak global cues may keep markets volatile, though technical indicators suggest signs of stability. They identified 23,000–23,100 as a key support zone for the Nifty and 23,500–23,600 as immediate resistance.
Investor sentiment remained cautious following US strikes on Iran, which raised concerns about regional conflict and energy supplies. Brent crude rose to around $93 per barrel, while WTI crude approached $90.
Asian markets traded mostly lower, with Japan’s Nikkei, Hong Kong’s Hang Seng and South Korea’s KOSPI posting losses.
Wall Street also ended lower overnight amid geopolitical and economic concerns.
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