India Market Wrap: Benchmarks Extend Winning Streak; Sensex Closes Above 80,000

Wednesday’s gains were driven by a strong performance in tech and auto stocks; the Nifty Bank index hit a new all-time high before retreating on profit-taking.

Indian markets rose for the seventh consecutive session on Wednesday, but failed to maintain the opening levels. Sensex ended above the 80,000 mark for the first time since December 2024.

The benchmark indices ended higher, with Nifty 50 holding above the 24,000 mark, while the Sensex finished at 80,116. 

Midcaps too mirrored similar gains, ending higher by 0.5%. Barring financials and consumer durables, all sectors ended in the green.

On Stocktwits, retail sentiment for the Nifty 50 stayed ‘bullish.’ 

The Nifty Bank index reached a new all-time high of 56,098 earlier during the day, but closed lower at 55,292 due to profit-taking. Top laggards included heavyweights such as HDFC Bank and Kotak Bank.

Tech stocks were the biggest movers with the Nifty IT index (+4%) leading the recovery on Dalal Street. HCL Tech stock gained 8% as investors cheered deal wins, strong earnings, and fiscal year 2026 (FY26) guidance that was better than its peers. 

Auto stocks also saw significant gains in Wednesday's session, with Tata Motors and M&M rising between 3% and 4%. 

Sona BLW, an auto components manufacturer, saw its shares rise by up to 6%, following positive commentary from key client Tesla regarding the production of a crucial model.

Waaree Energies rose a whopping 15%, driven by bullish commentary from management and strong fourth-quarter earnings. 

Among other individual stock movers, Aurobindo Pharma rallied 5% after its subsidiary got the U.S. regulator nod for a generic blood cancer drug. Meanwhile, Lupin gained 2% ahead of its drug launch in the U.S. on Wednesday. 

Globally, European markets trade higher. In the U.S., Dow Futures are indicating a positive start on Wall Street. 

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