The Indian equity markets on Wednesday attempted to recover from their sharp losses from the previous trading session. The key equity benchmark indices, Sensex and Nifty, began trading on a higher note as the market session began.


Around 9:31 AM, the BSE Sensex climbed a little over 300 points to trade at 76,144.13, while the NSE Nifty50 inched up by more than 50 points to reach near the 23,100 mark.


As the session progressed, the indices continued to rally and manage for the sharp losses recorded in the last trading session. Around 9:59 AM, the Sensex jumped nearly 400 points and crossed 76,200 in the market, while the Nifty gained close to 100 points and traded at 23,120.80.


Markets Recover


This recovery was driven by the US President Donald Trump’s announcement of an investment of $500 billion in AI infrastructure. This ignited hopes for more employment opportunities for tech professionals and lifted the sentiment in the market.


Following the news, Infosys, TCS, Sun Pharma, UltraTech Cement, and Tech M emerged among the gainers on the 30-share Sensex platform. On the other hand, the laggards in the session so far included Tata Motors, Zomato, PowerGrid, Tata Steel, and SBI, among others.


On the Nifty, Wipro, TCS, and Infosys traded higher by 2.38 per cent, 1.77 per cent, and 1.50 per cent respectively.


In the broader markets, the Nifty Smallcap 100 index dominated in red and slipped 1.40 per cent, followed by the Nifty Smallcap 250 index which declined 1.35 per cent.


Sectorally, the Nifty Realty index tanked 2.66 per cent in the session. Meanwhile, the Nifty IT index climbed 0.77 per cent.


Macro Indicators


The Indian rupee remained heavily volatile in the morning trade on Wednesday. The domestic unit was backed by domestic equities, however, the sentiment was weighed down by major pressure from global uncertainties. This resulted in investors remaining cautious. As such, the Indian currency opened at 86.56 and depreciated to a low of 86.71 against the US dollar in the morning session on Wednesday. In the last session, the rupee settled at 86.58, clocking a fall of 13 paise against the greenback.


The global oil benchmark, Brent crude, climbed 0.09 per cent to reach $79.36 per barrel. Foreign Institutional Investors (FIIs) continued to offload Indian equities and dumped shares worth Rs 5,920.28 crore in the markets on Tuesday, official exchange data revealed.