Indian equity benchmarks staged a strong recovery on Wednesday, with the BSE Sensex surging 902.68 points (1.17%) to close at 77,791.25 and the Nifty 50 gaining 275.95 points (1.15%) to settle at 24,271.65. According to reports from Dalal Street Investment Journal (DSIJ), the rally was driven by robust buying in auto, FMCG, and other blue-chip stocks, with broader markets also participating in the positive momentum. As per Republic World, the Nifty 50 reclaimed the 24,200 level during morning trade, opening at 24,096.90 and hitting an intraday high of 24,296.30 against a low of 24,059.95.
The Nifty Auto index emerged as the top performer, rising 2.5%, followed by gains in FMCG, IT, Realty, and Oil & Gas indices, each advancing over 1%. As reported by DSIJ, among the top gainers in the Nifty 50 index were Maruti Suzuki India, Coal India, and Tech Mahindra, which led the rally with strong buying interest. Maruti Suzuki shares gained momentum after the company reported a record annual consolidated net profit of ₹14,679.5 crore for FY26 and achieved a milestone of 24.22 lakh vehicle sales. In the banking sector, Bandhan Bank shares jumped 8% following its latest quarterly performance. Other sectors including Nifty Bank, Financial Services, Metal, Pharma, Healthcare, Consumer Durables, and Chemicals were also trading in positive territory.
Several stocks moved on the back of specific news triggers, with CEAT Ltd reporting a two-fold jump in consolidated net profit at ₹243.8 crore for Q4. Dr. Reddy's traded higher by 1.5% ahead of its sectoral updates. ONGC and Coal India gained over 3% as crude oil prices remained elevated above $110 per barrel despite recent ceasefire talks. HCL Tech showed signs of recovery after a recent 17% slide post-earnings. Energy heavyweight Reliance Industries provided significant support to the indices, trading with gains of over 1.3%.
Broader markets mirrored the positive trend with the Nifty MidCap index trading 0.76% higher and the Nifty SmallCap index gaining 1.16%, indicating widespread participation beyond frontline stocks. According to DSIJ, this widespread participation reflected strong investor confidence across market segments despite ongoing global uncertainties and mixed global cues. Market breadth remained firmly positive as bulls dominated the opening hour of trade, with investors cheering strong corporate earnings and stabilizing global energy cues.
Global cues remained supportive with Brent crude prices rising 0.36% to USD 111.6 per barrel on the Intercontinental Exchange. As reported by DSIJ, the increase came as the reopening of the Strait of Hormuz faced delays amid stalled talks between the U.S. and Iran. Additionally, the Organization of the Petroleum Exporting Countries faced fresh developments after the UAE announced its exit from the grouping, effective May 1. Despite Asian markets trading mixed following a tech-led decline on the Nasdaq, domestic focus remained on heavy earnings calendar with Vedanta, Adani Power, and Federal Bank slated to report March-quarter results.
