Metal and banking stocks lead gains; IT lags behind

On Wednesday, Indian equities finished in the green as the Sensex rose 0.40% to 74,828.25 and the Nifty 50 climbed 0.50% to 23,446.80. The most pronounced sectoral strength came from metal stocks, which jumped 2.4%, and from banking stocks, which added over 1% each.

FMCG, PSU banks, real estate and cement also delivered solid performance, each advancing more than a percentage point. On the downside, the IT sector slipped 0.87% and media fell 0.50%, dragging down the overall momentum.

Top‑performing shares included Bajaj Finance, Hindalco, Tata Steel, Apollo Hospitals and JSW Steel. Other notable gainers were Grasim, Nestlé India, ITC, L&T, Power Grid and Adani Ports. The weakest performers were HCL Tech, Titan, Infosys, Coal India, TCS, Wipro, NTPC, BEL and Trident, all of which posted double‑digit percentage losses.

Analysts said that the market ignored the modest rise in crude oil, focusing instead on the strong domestic economic indicators, such as the better‑than‑expected flash PMI. The prevailing risk premium on oil kept the rupee under pressure, yet the overall macro environment remained supportive of buying.