Barometers trade in positive terrain; European mrkt advance
At 13:25 IST, the barometer index, the S&P BSE Sensex gained 302.17 points or 0.37% to 81,395.89. The Nifty 50 index rose 99.50 points or 0.39% to 24,968.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.64% and the S&P BSE Small-Cap index jumped 0.65%.
The market breadth was negative. On the BSE, 2,442 shares rose and 1,586 shares fell. A total of 171 shares were unchanged.
Gainers & Losers:
Bharat Electronics (up 3.84%), HCL Technologies (up 2.99%), Wipro (up 2.93%), Tech Mahindra (up 2.04%) and Tata Consultancy Services (TCS) (up 2.03%) were the major Nifty50 gainers.
Mahindra & Mahindra (M&M) (down 2.50%), Hero Motocorp (down 1.47%), Bajaj Auto (down 1.42%), Maruti Suzuki India (down 1.18%) and Tata Motors (down 0.87%) were the major Nifty50 Losers.
Fitch Ratings:
Global ratings agency Fitch Ratings has revised its growth forecast for India, raising its projection for the fiscal year ending March 2026 (FY26) to 6.9 percent, up from the previous 6.5 percent.
India-US Trade Deal
US President Trump indicated progress in India-US trade negotiations, a move that could lift sentiment in Indian equities. He expressed confidence in concluding discussions with Prime Minister Narendra Modi, who underscored the strategic importance of the India-US partnership.
Stocks in Spotlight:
Kellton Tech Solutions jumped 7.01% after the company announced the signing of a memorandum of understanding (MoU) with Hungary-based E-Group ICT Software Zrt to collaborate on an AI Project under the EU? India Framework Agreement.
Hero MotoCorp declined 1.47%. The company announced that it will fully pass on the benefits of the next-generation GST 2.0 reforms to customers, effective 22 September 2025.
Bajaj Auto fell 1.42%. The company announced that it will fully pass on the recent GST reduction to buyers, offering price cuts of Rs 20,000 on its two-wheelers and KTM motorcycles and up to Rs 24,000 on its three-wheeler range.
Sun Pharmaceutical Industries rose 0.34%. The company said the U.S. Food and Drug Administration (FDA) has classified its Halol manufacturing facility in Gujarat as official action indicated (OAI), indicating non-compliance with the regulator?s manufacturing standards.
Sri Lotus Developers and Realty added 2.19% after the company said that it has been appointed as developer of a prestigious re-development project located in Mumbai?s Bandra West, in close proximity to the iconic Bandstand Promenade.
Oracle Financial Services Software surged 9.49% after its parent, Oracle Corp, delivered an ambitious forecast for its cloud business, lifting the NYSE-listed stock to a record high.
Global Markets:
European market advanced as investors awaited U.S inflation data due later Wednesday.
Asia market advanced on Wednesday as investors assessed China?s August inflation data.
Consumer prices in the mainland fell 0.4% year over year in August, according to data from the National Bureau of Statistics released Wednesday. Core CPI, which strips out volatile food and energy prices, rose 0.9% from a year earlier, according to the official release.
Meanwhile, the producer price index fell 2.9% year over year, improving from the 3.6% drop in July.
In South Korea, the seasonally adjusted unemployment rate rose slightly to 2.6% in August compared with July?s 2.5%, according to government data.
Overnight, all three key benchmarks in the U.S. closed at all-time highs as investors moved past concerns about disappointing jobs data and bet on Federal Reserve rate cuts.
The S&P 500 index settled up 0.27% at 6,512.61, while the Nasdaq Composite gained 0.37% to end the day at 21,879.49, with the latter hitting a new all-time intraday high as well. The Dow Jones Industrial Average finished up 196.39 points, or 0.43%, at 45,711.34.
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