Closing Bell: Sensex Surges 700 Points Higher, Nifty Above 25,200; Infosys Up 2%

News18

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Sensex Today: The Indian stock market is trading higher on Wednesday, supported by easing geopolitical tensions
Sensex Today: Indian equity markets extended their winning streak for a second consecutive session on Wednesday, buoyed by strong buying in media and technology stocks. Investor sentiment improved amid easing crude oil prices and the announcement of a ceasefire between Iran and Israel.
The BSE Sensex climbed 700.4 points, or 0.85 per cent, to close at 82,755.51, while the Nifty50 advanced 200.40 points, or 0.8 per cent, to end the day at 25,244.75.
In the broader market, the Nifty MidCap index rose 0.44 per cent, and the Nifty SmallCap index outperformed with a gain of 1.5 per cent.
Sectorally, the Nifty IT and Nifty FMCG indices outperformed, gaining 1.22 per cent and 0.8 per cent, respectively.
Global Cues
In global markets, Asia-Pacific indices traded largely flat after a positive start. Investor sentiment improved following a potential ceasefire between Iran and Israel, which was brokered by US President Donald Trump.
The truce raised hopes of reduced geopolitical risks. At last check, Japan's Nikkei was up 0.073 per cent, while the broader Topix slipped 0.1 per cent. Meanwhile, Australia's ASX 200 and South Korea's Kospi were trading with a slight negative bias. Investors in the region are also awaiting Australia's May inflation data.
In the US, stock futures were mostly muted during early Asian hours. Futures on the S\&P 500 and Nasdaq 100 each declined 0.1 per cent, while Dow futures also edged down by 0.1 per cent.
Federal Reserve Chair Jerome Powell, in his latest remarks, said the central bank is likely to maintain interest rates amid ongoing inflation concerns and uncertainty over the impact of proposed tariffs. Powell noted that the Fed is 'well positioned to wait" before making any changes to monetary policy, reinforcing expectations of a longer pause on rate moves.
US equity markets ended higher overnight, riding on the back of easing geopolitical risks and dovish Fed commentary. The Dow Jones Industrial Average jumped 1.19 per cent to 43,089.02. The S&P 500 gained 1.11 per cent to close at 6,092.18, just 0.9 per cent shy of its 52-week high. The Nasdaq Composite rose 1.43 per cent to 19,912.53, while the Nasdaq 100 surged 1.53 per cent to a record closing level of 22,190.52.
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