Sensex jumps over 1,100 points, Nifty crosses 25,350 as markets open higher

• Sensex jumps 1,168 points (1.44%) to 82,274.50, while Nifty gains 308 points (1.23%) to 25,352.60 amid easing crude prices and improving IT sentiment

• InterGlobe Aviation, M&M and SBI lead Nifty gainers, while PSU Bank stocks emerge as the top sectoral performers

• Analysts remain optimistic but flag possible consolidation as Nifty's RSI reaches 77.88, indicating overbought conditions

Indian equity markets began Wednesday's trading session on a strong note, with benchmark indices Sensex and Nifty registering sharp gains amid easing crude oil prices and improving investor sentiment towards domestic IT stocks.

The positive momentum was also supported by signs of recovery in global chip stocks, lifting sentiment across the technology sector.

At 9.23 am, the BSE Sensex surged 1,167.85 points, or 1.44 per cent, to 82,274.50. The NSE Nifty also advanced 307.95 points, or 1.23 per cent, to trade at 25,352.60.

Market analysts maintained a positive outlook on the Nifty, although technical indicators suggested the possibility of some consolidation. The index's Relative Strength Index (RSI) stood at 77.88, indicating overbought conditions.

According to analysts, put writing around the 25,000 level is providing support, while call writing in the 25,100–25,200 range could limit immediate gains. The immediate support zone is placed between 25,000 and 25,150, with resistance expected around 25,450–25,500.

Among the top performers on the Nifty, InterGlobe Aviation, Mahindra & Mahindra and State Bank of India (SBI) led the gains.

The rally was also visible in the broader market, with the Nifty MidCap index rising 0.68 per cent and the Nifty SmallCap index gaining 1.32 per cent.

Sector-wise, the Nifty PSU Bank index emerged as the biggest gainer, reflecting strong buying interest in public sector banking stocks. In contrast, the Nifty Pharma index was the worst-performing sectoral index, trading in negative territory.

Market experts believe the improving global and domestic environment could encourage continued buying by foreign institutional investors (FIIs), supporting frontline stocks across key sectors.

They expect banking and financial services, telecom, capital goods, select automobile companies and pharmaceutical majors to attract investor interest, with large-cap stocks likely to remain at the forefront of the rally.

With IANS inputs