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Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, wrapped up on a positive note, in anticipation of the US Federal Reserve's interest rate decision, reflecting the upward movement of their global counterparts during Wednesday's trading session. A potential US-China trade agreement has improved market sentiment.

The Nifty 50 increased by 0.45% to reach 26,053.9, while the Sensex gained 0.44% to hit 84,997.13. Both major indices closed just under 1% from their all-time highs set in September 2024.

The market's optimism was fueled by major players like Reliance Industries, HDFC Bank, NTPC, Adani Ports, Power Grid, HCL Tech, and Tata Steel, which experienced gains of up to 3% during intraday trading.

Mid-cap and small-cap indexes saw increases of 0.6% and 0.4%, respectively.

In addition to the US Federal meeting and the US-China trade agreement, analysts suggest that optimism regarding a possible US-India trade deal was a significant catalyst after US President Donald Trump suggested an impending agreement at the APEC Summit, enhancing foreign investor confidence. Positive global indicators, such as steady increases in US stocks and AI-driven surges in tech shares worldwide, further strengthened bullish sentiment.

"The domestic market ended on a strong note, supported by positive cues from Asian markets and improved clarity on global trade dynamics. Optimism over potential progress in India–US trade talks further lifted sentiment. Oil stocks led the rally as crude prices eased expectations of higher OPEC+ output, while metal stocks advanced amid firm commodity prices and supply constraints.

The upcoming Fed decision remains a key event for global markets; although a 25-bps rate cut is widely anticipated, investors will closely track its commentary for further rate cuts, which will guide the future market trajectory," said Vinod Nair, Head of Research, Geojit Investments.

As many as 36 stocks ended higher in the Nifty 50 index, among which NTPC Ltd (up 2.90%), Adani Ports and Special Economic Zone Ltd (up 2.69%), Oil and Natural Gas Corporation Ltd (ONGC) (up 2.61%) and Power Grid Corporation of India Ltd (up 2.43%) ended as the top gainers.

Shares of Dr Reddys Laboratories Ltd (down 2.40%), Coal India Ltd (down 2.16%), Bharat Electronics Ltd (BEL) (down 1.44%) and Eternal Ltd (down 1.18%) ended as the top losers.

(more to come)

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