Sensex surges 313 points after rangebound trading, Nifty crosses 25,300

Indian equities closed higher on Wednesday, with the Sensex and Nifty posting gains for a second consecutive session. Investor sentiment was buoyed by optimism over progress in India-U.S. trade discussions and expectations of a potential interest rate cut by the Federal Reserve later in the day. The S&P BSE Sensex climbed 313.02 points (0.38%) to close at 82,693.71, while the NSE Nifty rose 91.15 points (0.36%) to finish at 25,330.25. Among the 30-share Sensex constituents,

of India, , Kotak Mahindra Bank, i Suzuki, and were the top performers, gaining between 1% and 3%. The broader market also strengthened, with small-cap stocks up 0.7% and mid-caps rising 0.1%. IT stocks, which earn a significant portion of revenue from the U.S., advanced 0.7%, supported by expectations of a 25-basis-point Fed rate reduction. Investors are monitoring potential signs of further easing later this year. Analysts noted that lower U.S. interest rates could enhance India’s appeal to foreign investors by reducing Treasury yields and the dollar’s strength. Separately, home-services platform Urban Company surged 62% from its issue price of Rs 103 in its market debut. The Nifty has now recorded gains in ten of the last eleven sessions, sitting just 3.6% below its all-time high of 26,277.35 reached in September last year. Currency Update: The Indian rupee posted its largest single-day gain since August 19, climbing 0.27% to 87.8150 per U.S. dollar, compared to the previous close of 88.0525 ahead of the Fed decision. Top Trades of the Day: Company shares jump over 8% following robust listing gains. Shares hit a 5% lower circuit after exiting the domestic lounge business.