The move was led by autos, with Maruti Suzuki surging over 4.5% to around Rs 13,489, emerging as one of the top contributors to the index.

Sensex jumps 1,000 points: What's driving the rally on Dalal Street today?

Domestic markets surged on Wednesday, with the Sensex rising over 1,000 points and the Nifty climbing to around 24,318. Gains across auto, banking, IT, energy and consumption stocks pointed to a broad-based recovery in sentiment.

by · India Today

In Short

  • Auto shares spearheaded gains, with Maruti Suzuki and M&M leading advances
  • Reliance Industries and Bharti Airtel added heft to benchmark momentum
  • L&T, ITC and Coal India joined the rally across sectors

Domestic markets moved sharply higher on Wednesday, with the Sensex rising over 1,000 points to around 77,900 and the Nifty climbing above 24,300 in intraday trade as of 1:25 pm. The rally built through the session and held firm, supported by gains across sectors rather than a narrow set of stocks.

MARUTI, RELIANCE LEAD THE WAY

The move was led by autos, with Maruti Suzuki surging over 4.5% to around Rs 13,489, emerging as one of the top contributors to the index. Mahindra & Mahindra followed with a gain of over 3%, extending strength across the sector.

The early push from autos was reinforced by index heavyweights.

Reliance Industries rose close to 2% to around Rs 1,414, while Bharti Airtel gained over 2% to trade near Rs 1,885.

Given their weight on the Sensex, these stocks helped sustain the rally and push the index higher through the session.

But gains were not limited to a few sectors. Capital goods and infrastructure stocks saw steady buying, with Larsen & Toubro rising over 2% to around Rs 4,123. Defensive and consumption names also moved higher, with ITC gaining nearly 3.8% and Nestl India rising over 1.5%.

Energy stocks added to the momentum, with Coal India climbing over 3.7% and ONGC trading higher by about 1.2%. Banking stocks remained firm, with State Bank of India, Axis Bank and HDFC Bank all in the green, providing stability to the broader move

Technology stocks also participated, with Infosys gaining over 2% and Tata Consultancy Services rising about 1.7%, adding to the overall strength.

By early afternoon, most index constituents were trading higher, keeping the Sensex above the 1,000-point gain mark and reflecting a session marked by steady, broad-based buying across the market.

- Ends