Sensex today gains over 100 points, Nifty near 25,150 amid gains in RIL, IT stocks; OMCs outperform

Stock market today: The Indian stock market closed on a mixed note on Wednesday, with large-cap stocks outperforming their mid- and small-cap counterparts.

Although benchmark indices ended in the green, they closed well off their intraday highs as profit-booking continued in financial and FMCG stocks. However, gains in IT and OMC stocks lent support to the indices, helping them end the session with modest gains.

The Nifty 50 settled 0.15% higher at 25,141, closing above the 25,000 mark for the third consecutive session, while the Sensex gained 123 points, or 0.15%, to end at 82,515. In contrast, the Nifty Midcap 100 and Nifty Smallcap 100 indices declined by over 0.50%.

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Participants remain slightly cautious amid mixed global cues, and the divergent trend among index heavyweights continues to weigh on overall sentiment.

Among large-cap stocks, all three oil marketing companies—IOC, HPCL, and BPCL—ended the session with gains of up to 4%. The rally followed the U.S. Energy Information Administration’s (EIA) projection that oil inventories will rise by an average of 0.8 million barrels per day in 2025, which is 0.4 million bpd higher than last month’s estimate.

Domestic tech stocks also witnessed healthy buying on a volatile day, as U.S. and Chinese officials agreed on a framework to revive their trade truce and address China’s export restrictions on rare earth minerals and magnets.

Meanwhile, bilateral trade talks between Indian and U.S. officials in New Delhi made progress, with discussions covering key areas such as industrial goods, agriculture, tariff reductions, and non-tariff barriers, Reuters reported, citing Indian government sources.

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On the economic front, the World Bank, in its Global Economic Prospects—June 2025 report, projected India’s economy to grow slightly faster at 6.5% in FY27 and 6.7% in FY28. However, it lowered its global growth forecast to 2.3% for the year, citing escalating trade tensions and policy uncertainty.

Sectoral Performance: Oil & Gas stocks lead; banking lags

Out of the 13 sectoral indices, five ended in the green. The Nifty Oil & Gas index emerged as the top performer, rising 1.47%, followed by the Nifty IT index, which gained 1.26%. Other sectors such as Nifty Pharma, Nifty Auto, and Nifty Realty also posted healthy gains.

On the other hand, PSU banks continued to face selling pressure, with the Nifty PSU Bank index falling 1.04%. FMCG stocks also saw profit-booking, dragging the Nifty FMCG index down by 0.7%.

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Commenting on today’s market performance, Vinod Nair, Head of Research, Geojit Investments Limited, said, “Profit booking continues in the broader markets, driven by elevated domestic valuations. However, large-cap resilience is supporting the indices, with institutional investors favoring companies with stable earnings outlooks. The auto and IT sectors remain in focus—auto stocks are gaining on improved monthly sales, while IT is benefiting from optimism around a potential US-China trade resolution.”

“Meanwhile, following the recent rally, the market lacks clear direction as investors await key macroeconomic data and updates on trade negotiations. US inflation data, due later today, is expected to show a slight uptick, driven by recent tariff increases,” he further added.

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Bullish momentum likely to continue towards 25,350, says expert

Rupak De, Senior Technical Analyst at LKP Securities, said, “The Nifty remained volatile throughout the day before closing flat. However, the overall sentiment remains positive as the index continues to hold above the breakout point. Additionally, a golden crossover is in place, which supports the bullish outlook. Any dip should be viewed as a buying opportunity. Crucial support is placed at 24,850. As long as the index holds above this level, the trend is likely to remain positive, with the potential to move towards 25,350 in the short term.”

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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