Sensex rallies 500 pts; Nifty tops 25k; IT, PSU Bank indices up 2%, autos dip

Indian stock markets were trading strong on Wednesday as investors assessed US President Donald Trump’s moves vis-a-vis India-US trade deal.

At 10:00 AM, the BSE Sensex index was quoting at 81,528, rising 426 points or 0.53 per cent, while the Nifty50 index was at 25,004, up 135 points or 0.55 per cent.

HCL Tech, Tech M, TCS, BEL, Infosys, Bajaj Finance, L&T, and Adani Ports were the top Sensex gainers, rising over 1 per cent each.

On the downside, M&M, Maruti Suzuki, Hindustan Unilever, ITC, and Asian Paints were the top losers.

Earlier today, Trump wrote on ‘Truth Social’ that America and India will resume negotiations to address the “trade barriers” between the two nations, adding that he looks forward to speaking with Prime Minister Narendra Modi in the coming weeks.

In a separate development, the US President urged the European Union (EU) to impose tariffs of up to 100 per cent on India and China as part of efforts to pressure Russian President Vladimir Putin.

In this backdrop, the Nifty MidCap index added 0.8 per cent and the Nifty SmallCap index gained 0.94 per cent.

Among sectors, the Nifty IT index was the top gainer, rising 2 per cent, followed by the Nifty PSU Bank index, up 1 per cent. The Nifty Auto index, however, fell on profit booking.

IPOs today

In the mainboard IPO category, the Urban Company IPO, Shringar House of Mangalsutra IPO, and Dev Accelerator IPO will open for subscription.

On the SME IPO front, shares of Optivalue Tek Consulting will list. The IPOs of Galaxy Medicare and Jay Ambe Supermarkets will open for application, while the subscription window for Vashishtha Luxury Fashion IPO will close.

Besides, the basis of allotment for Sharvaya Metals IPO, Vigor Plast India IPO, and Austere Systems IPO will be finalised.