Stock market today: Nifty50 rallies strongly, goes above 26,1050; BSE Sensex up over 650 points
Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, rallied strongly in trade on Wednesday. While Nifty50 went above 26,150, BSE Sensex surged over 650 points. At 2:00 PM, Nifty50 was trading at 26,164.40, up 226 points or 0.87%. BSE Sensex was at 85,343.06, up 668 points or 0.79%.Indian equity benchmarks were trading higher on Wednesday, the last trading day of the year, snapping recent losing streaks as buying interest returned to metal stocks. The Sensex and Nifty rebounded after five and four consecutive sessions of declines, respectively, supported by gains in steelmakers following the government’s decision to impose a safeguard duty on select steel imports.Steel stocks led the rally, with JSW Steel, Tata Steel and Titan Company emerging among the top gainers on the Nifty 50, climbing as much as 5 percent. The Nifty Metal index advanced more than 1 percent after the government announced a three-year safeguard duty of 12 percent on certain steel product imports to curb low-cost inflows from China.Steelmakers outperformed after the government said it would impose the 12% duty on select steel imports for three years to protect domestic producers from low-priced overseas supplies.Market sentiment was also aided by softer crude oil prices. Brent crude, the global benchmark, edged down 0.10 percent to $61.27 a barrel. Lower oil prices generally support Indian equities by easing inflationary pressures and improving the macroeconomic outlook.Oil prices have fallen more than 10 percent in 2025, with Brent crude heading for its longest stretch of annual declines as global supply exceeded demand despite geopolitical tensions, higher tariffs, increased OPEC+ output and sanctions on major producers.Brent futures are down nearly 18 percent for the year, marking the sharpest annual fall since 2018, and are set to record a third straight yearly decline. The more active March contract slipped 6 cents to $61.27 a barrel at 0147 GMT.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The market has the potential for a directional move upwards but is being weighed down by sustained FII selling and absence of fresh triggers like positive news on the US-India trade front. The coming days are going to be eventful, starting with the auto sales data for December, Q3 corporate results, expectations from the budget and other news relating to the global economy like the possible Fed action in 2026.” “The Q3 results have to be watched carefully for indications of uptick in earnings. This is significant since there is a lot of hope that there will be a rebound in earnings, going forward. Earnings growth will be the single most important factor determining the market trend in 2026. The FII flows in 2026, too, will depend on the earnings performance and expectations surrounding that.”Overnight in the US, Wall Street ended marginally lower after a volatile session. The S&P 500 and the Nasdaq slipped slightly as gains in communication services stocks were outweighed by losses in technology and financial shares. Weakness in financial stocks also dragged on the Dow Jones Industrial Average.Despite the recent consolidation, global equities are heading toward their strongest annual performance in six years. The rally has been underpinned by interest-rate cuts by the US Federal Reserve and strong investor optimism around artificial intelligence-driven companies.On the domestic institutional front, foreign portfolio investors were net sellers of Indian equities, offloading shares worth Rs 3,844 crore on Tuesday. In contrast, domestic institutional investors provided support to the market, purchasing shares worth Rs 6,160 crore during the session.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
