FX.co ★ India Stocks Rise to Near 9-Month Top

On Wednesday, Indian shares surged by 556 points, or 0.7%, reaching 82,611 in early trading, marking their second consecutive session of gains. This uptrend was primarily fueled by advancements in the tech and auto sectors. The BSE Sensex reached its highest mark since early October 2024, echoing a positive trading session on Wall Street the previous day. This optimism was largely due to easing geopolitical tensions in the Middle East and a sustained drop in oil prices. Small-cap and mid-cap equities also bolstered the momentum, advancing by 1.3% and 0.6%, respectively, while the Nifty 50 rose by 0.7%, surpassing 25,200. Nonetheless, the overall gains faced some restraint following a statement from Fed Chair Jerome Powell in his Congressional testimony, where he reiterated that the Federal Reserve is not hastening to reduce interest rates. Leading the early gainers were Nestle India, up 1.9%; HCL Technologies, climbing 1.5%; Titan, with a 1.4% increase; Infosys, advancing 1.3%; Bharti Airtel, up by 1.3%; and Reliance Industries, rising 1.2%.