Stock market today: Sensex jumps 505 pts, Nifty above 23,700; Bajaj Finance, TCS lead gainers

Domestic benchmark indices Sensex and Nifty extended their gains, opening higher on Wednesday, supported by positive global market cues amid uncertainty around West Asia ahead of the US Fed’s policy meeting decision later today.

At 9:21 am, the BSE Sensex gained 505.78 points, or 0.66%, to 76,576.62. The NSE Nifty rose 151.90 points, or 0.64%, to 23,733.05.

Among Sensex constituents, Bajaj Finance jumped 2.07% to Rs 886.55. Tata Consultancy Services (TCS) advanced 1.81%, while IndiGo, HCL Technologies and Power Grid rose 1.64%, 1.54% and 1.41%, respectively.

Traders may continue to concentrate on banking, financial, and capital goods stocks, which are showing relative strength, advised Aakash Shah, technical research analyst at Choice Equity Broking Private Limited.

“However, with indices approaching key resistance levels, a stock-specific approach with disciplined risk management remains advisable for the trading session ahead," Shah said.

Broader Asian markets traded mostly higher. Japan’s Nikkei 225 rose 2.23% to 54,898.44, while South Korea’s Kospi advanced 3.65% to 5,846.36, while Hong Kong’s Hang Seng edged 0.27% lower to 25,797.96.

Wall Street closed higher overnight, with all three major indices ending in the green territory. The S&P 500 rose 0.25% to close at 6,716.09, while the Dow Jones Industrial Average edged up 0.10% to settle at 46,993.26. The Nasdaq Composite gained 0.47% to end at 22,479.53.

Crude oil prices remain high despite ongoing geopolitical tensions in the Middle East, which continue to disrupt energy markets, said Hariprasad K, SEBI-registered research analyst and founder at Livelong Wealth.

“For India, sustained strength in oil remains a critical concern, given its implications for inflation, currency stability and corporate margins,” Hariprasad said.