FPJ News Service mumbai

Indian markets closed on a strong note on Wednesday supported by positive cues from Asian markets, hopes of Fed rate cut, and US-China trade truce. Optimism over potential progress in India–US trade talks further lifted overall investor sentiment. Though FIIs bought equities worth Rs 10,339.80 crore on Tuesday, they sold securities worth Rs 2,540 crore on Wednesday.  

The 30-share BSE Sensex gained 368.97 points to close at 84,997.13. During the day, it climbed 477.67 points to 85,105.83. The 50-share NSE Nifty rose by 117.70 points to 26,053.90.

“Oil stocks led the rally as crude prices eased expectations of higher Opec+ output, while metal stocks advanced amid firm commodity prices and supply constraints. The Fed decision remained a key event for global markets, and investors closely track further rate cuts, which will guide the future market trajectory,” said Vinod Nair, head of research at Geojit Investments.

Shares of textile and shrimp exporters surged following Trump’s comments on a potential trade deal with India, raising investor expectations for reduced tariffs on domestic exports.

“Globally stock markets continue to be bullish aided by the sustained uptrend in the mother market US where AI related deals and news are driving tech stocks up. Nifty’s gain of 1300 points in the October series has strengthened the mildly bullish undertone of the market. This has the potential to continue in November helping the Nifty reach an all-time high soon. The fairly-valued Nifty Bankex is well placed to lead the rally in the market. Strong and steady large cap blue-chips like Bharti Airtel, RIL and L&T can lend support to the Nifty,” said Dr. VK Vijayakumar, chief investment strategist at Geojit Investments.

Adani Ports, NTPC, Power Grid, HCL Tech, Tata Steel, Sun Pharma, Trent and Asian Paints were among the top gainers. Bharat Electronics, Eternal, and Mahindra & Mahindra were among the top losers.