Nifty, Sensex surge as Dollar Index declines: Market wrap for Wednesday

The Indian stock market ended on a strong note on Wednesday, with both the Nifty and Sensex rallying as the dollar index weakened. Market breadth was overwhelmingly positive, with 3,247 stocks advancing, 768 declining, and 86 remaining unchanged on the Bombay Stock Exchange (BSE), leading to an advance-decline ratio of 4.27.

Market Highlights:

On the National Stock Exchange (NSE), 14 stocks reached new 52-week highs, while 124 sank to fresh 52-week lows.

Sectoral indices closed in the green, with Nifty Metal, Nifty PSU Bank, and Nifty Media leading the gains.

Stock Movements:

Gensol Engineering continued its downward slide after credit rating downgrades from CARE Ratings and ICRA. ICRA slashed its rating to 'D' on a total rated amount of Rs 2,050 crore, marking a sharp fall from previous ratings.

RHI Magnesita India (+2.27%) announced that its subsidiary, Intermetal Engineers, is acquiring Ashwath Technologies.

Muthoot Microfin (+1.44%) received approval to conduct Aadhaar-enabled e-KYC, enabling paperless onboarding for rural entrepreneurs and Joint-Lending Groups (JLGs).

Coforge (+8.34%) revealed plans for its step-down subsidiary, Coforge Technologies Australia, to acquire TMLabs.

Larsen & Toubro (L&T) (+0.83%) secured significant orders for residential tower construction in Mumbai, Bangalore, and Chennai.

Grasim Industries (-0.13%) commenced commercial production at its Mahad paint plant.

Welspun Specialty Solutions (+4.10%) emerged as the lowest bidder for a BHEL contract for stainless steel seamless boiler tubes.

Tata Motors (+3.49%) launched India’s first trials of hydrogen-powered heavy-duty trucks under the National Green Hydrogen Mission.

JSW Energy (+5.79%) raised Rs 1,200 crore through non-convertible debentures.

Power Grid Corporation of India (+4.09%) won three inter-state transmission system projects under a BOOT model.

Refex Green Mobility (+5.00%) signed an agreement to deploy 1,000 electric four-wheelers for a major ride-hailing platform across key cities in FY26.

Rail Vikas Nigam (+3.10%) secured a Rs 729.82 crore contract from HPSEBL for power distribution infrastructure in Himachal Pradesh.

GE Vernova T&D India (+1.79%) received three bulk procurement orders worth Rs 500 crore from Power Grid Corporation.

Broader Market Performance:

Asian markets showed mixed trends, with closing values reflecting investor sentiment across key economies.

With positive momentum in sectoral indices and strong buying interest, Wednesday’s market action underscores investor optimism. As global cues and domestic developments unfold, market participants will watch closely for further trends in the coming sessions.