Indian equity benchmarks advanced for the second consecutive session on Wednesday, buoyed by softer crude prices and encouraging global developments.
Investor confidence strengthened after US President Donald Trump indicated ongoing efforts to de-escalate tensions in the Middle East.
The Nifty 50 climbed 1.72 per cent, gaining 392.70 points to close at 23,306.45. The BSE Sensex rose 1.63 per cent, adding 1,205 points to settle at 75,273.45.
Market participants observed that the 23,300–23,350 band remains a critical threshold for the Nifty.
Sustained movement above this level may support short-term stability, while a breach could trigger selling pressure.
Analysts identified 23,500-23,600 as a strong resistance zone, with 23,800 as the next hurdle. On the downside, 23,000 serves as key support, followed by 22,900.
Among Sensex constituents, Tech Mahindra, Power Grid Corporation of India, and Tata Consultancy Services lagged.
In contrast, Bajaj Finance, Titan Company, InterGlobe Aviation, Trent, and Mahindra & Mahindra led gains.
Broader indices outperformed, with midcap and smallcap segments rising sharply. Sectorally, consumer durables, realty, and PSU banks drove the rally, while IT stocks underperformed.
Analysts attributed the upward movement to easing geopolitical concerns and declining oil prices, which enhanced risk appetite.
Optimism around a potential pause in the US-Iran conflict further supported the positive market trajectory.
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