By 1:01 PM on Wednesday the Nifty 50 was at 24,198.15, up 176 points and within a whisker of the 24,200 mark it kept brushing without holding. The Sensex stood at 77,557, higher by 566.59 points (0.74%).
It was a day of rotation more than a rally. At one stage, pressure on metal, oil and gas, IT and energy stocks pulled the Nifty back under 24,200.
Crude cools, the rupee firms
Oil sat at the center of the story. Prices were described as steady near $69 to $70 a barrel, with crude having given back much of what it gained during the recent conflict in West Asia. A commodities update showed Brent for August 2026 settlement down $1.10 (1.49%) at $72.64 a barrel.
For India, which imports much of its energy, softer crude generally eases pressure on the import bill and on inflation expectations. That can lift appetite for equities, especially rate-sensitive and consumption-linked segments such as autos.
The rupee gained too. Reports put it at around ₹94.3 against the US dollar, helped by the drop in crude and better global risk sentiment. Another update had it nearer ₹94.8 at a different point, so the currency was moving inside a narrow band. Optimistic earnings forecasts from US chipmaker Micron Technology were cited as a supportive global cue.
Autos and healthcare lead
Buying came mainly from automobile and healthcare stocks. FMCG and realty counters drew interest as well, which softened intraday dips. Energy and metals saw selling during parts of the afternoon.
Maruti Suzuki topped the Nifty 50 gainers, rising 4.91% to ₹13,898 from a previous close of ₹13,248, with an intraday high of ₹13,917. Max Healthcare climbed 4.65% to ₹1,132. IndiGo advanced 4.41% to ₹5,436.70 against a prior close of ₹5,207.20, touching ₹5,454 at its best. Mahindra and Mahindra gained 4.15% to ₹3,191, and Shriram Finance rose 2.34% to ₹1,042.85.
Earlier, at 10:30, the Sensex was up 541.89 points (0.71%) at 77,536.18 and the Nifty 50 up 153.70 points (0.64%) at 24,175.7. Breadth was strong then, with about 40 advances against about nine declines on the Nifty 50. The Nifty Auto index had risen 2.52% to 27,049.65.
The profit-taking in some sectors showed the rally was uneven. Traders were still tracking crude and the dollar-rupee rate for their next cues.
