Stock Market Today: Sensex, Nifty Open Higher As IT Stocks Gain, Crude Eases

Indian equity benchmark indices traded within a narrow range on Wednesday morning, extending a subdued trend for the second consecutive session as easing crude oil prices provided support to investor sentiment.

Despite mixed sectoral performance, gains in information technology stocks helped keep the broader market in positive territory.

In early trade, the Sensex advanced by more than 100 points, or 0.19 per cent, to reach 76,348.95, while the Nifty rose around 30 points, or 0.12 per cent, to trade at 23,853.75.

Market participants remained cautious, balancing improving global cues against concerns over domestic weather conditions.

Among sectoral indices, Nifty IT emerged as the strongest performer, gaining nearly 1 per cent.

The rally was supported by broader strength in technology-related stocks, with the Nifty MidSmall IT & Telecom index also posting healthy gains.

Pharma, healthcare and realty shares attracted buying interest, reflecting investor preference for defensive and growth-oriented sectors.

Banking and financial stocks also remained firm, with private and public sector banks recording modest gains.

Metal and automobile stocks faced selling pressure, making them the weakest performers during the session.

Market experts noted that the sharp decline in global crude oil prices has eased some of the macroeconomic concerns facing India.

Lower crude oil prices have stabilised the rupee and eased foreign investor selling, boosting market sentiment.

Analysts remain cautious over weak monsoon rainfall, which could affect rural demand, economic growth and corporate earnings.

While FMCG and entry-level two-wheeler sectors may face pressure, pharmaceutical stocks are expected to remain resilient.

Brent crude traded near $76 a barrel, while WTI hovered around $72.

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