CHENNAI: Indian equity benchmarks ended higher for the third straight session on Wednesday, November 12, supported by gains in IT, auto, and pharma stocks, amid firm global cues and optimism over a possible India–US trade deal.
The BSE Sensex climbed 595 points, or 0.71 percent, to close at 84,466.51, while the Nifty 50 rose 180 points, or 0.70 percent, to settle at 25,875.80. Broader markets also mirrored the uptrend, with the Nifty Midcap 100 and Smallcap 100 advancing around 0.8 percent each, indicating healthy market breadth.
The rally was led by IT shares, with the Nifty IT index gaining over 2% on the back of strong global demand outlook and renewed buying in large-cap counters like Tech Mahindra and Infosys. Auto and pharma stocks also contributed to the gains, while the realty and metal sectors remained weak.
Among major movers, Asian Paints surged after reporting a strong 43% year-on-year rise in quarterly profit, while Tech Mahindra and Tata Consultancy Services saw renewed buying interest. On the other hand, Tata Steel, Bharat Electronics, and Tata Motors (Passenger Vehicles) ended marginally lower.
Investor sentiment improved as global markets remained firm, buoyed by hopes of progress in trade negotiations between India and the US and signs of a resolution to the US government funding impasse. Strong corporate earnings and steady domestic demand further supported the uptrend.
On the macro front, the Indian rupee weakened slightly, closing around Rs 88.64 per US dollar, raising some caution over imported inflation and foreign fund outflows.
Analysts said the market tone remains constructive, with select buying seen in global-facing sectors like IT and domestic consumption plays such as auto and consumer durables. However, they cautioned that the weakening currency and subdued performance in metals and real estate could keep the rally in check.
Overall, Wednesday’s gains reflected continued investor optimism and steady institutional buying, even as traders await fresh global triggers and the upcoming inflation data for further direction.