 "Sensex jumps 446 pts in early trade; Nifty tops 25,550 as IT stocks power rally. File image")
Indian equities opened on a firm footing on Wednesday, tracking strength in information technology and select heavyweight counters, with the benchmark indices extending gains in early trade.
The 30-share BSE Sensex rose 445.75 points, or 0.54 per cent, to 82,671.67 at 9:17 am, after opening at 82,530.12 against a previous close of 82,225.92.
The broader Nifty 50 advanced 129.70 points, or 0.51 per cent, to 25,554.35. The index traded within a narrow band of 25,507.90 to 25,581.70 in early deals, with market breadth firmly positive.
IT stocks lead the charge
Gains were led by frontline IT names, with Tech Mahindra, TCS, HCLTech, Infosys, and Wipro emerging as the top contributors to the indices’ upside.
Tech Mahindra climbed over 3 per cent, while TCS and HCLTech gained more than 2.5 per cent each. Infosys and Wipro were also up over 2 per cent in early trade, mirroring optimism around global tech demand and stabilising currency trends.
Among other major gainers on the Sensex were Power Grid, NTPC, Adani Ports, ITC, ICICI Bank and InterGlobe Aviation (IndiGo), suggesting a broad-based recovery across utilities, banking and consumption plays.
Heavyweight Reliance Industries edged higher by over 0.5 per cent, lending further support to the benchmark.
Select pockets under pressure
On the flip side, auto and select financial counters witnessed mild profit booking. Maruti Suzuki traded lower by around 0.3 per cent, while Bajaj Finance and Bajaj Finserv were also in the red. Eicher Motors and Dr Reddy’s Laboratories saw sharper declines among Nifty constituents.
Despite the marginal weakness in select names, overall market sentiment remained constructive, with the advance-decline ratio skewed heavily in favour of gainers.