Indian equity markets extended their winning streak on Wednesday, with the BSE Sensex rising above the 77,000 mark and the NSE Nifty 50 closing comfortably above 24,000. Positive global cues, lower crude oil prices, improving foreign fund flows, and strength in IT and banking stocks are the key factors that boosted investor sentiment across Dalal Street. The rally marked the fourth consecutive session of gains for the benchmark indices.

1. Continued Fall in Crude Oil Prices

The biggest trigger for today’s rally was the continued decline in crude oil prices. Brent crude slipped below $80 per barrel and touched its lowest level in more than three months following the US-Iran peace agreement and the easing of sanctions on Iranian oil exports. Lower oil prices are highly beneficial for India as they help reduce inflationary pressures, improve the trade balance, and support corporate earnings.

2. Optimism Surrounding the US-Iran Peace Agreement

Investor confidence remained strong after the recent peace framework between the United States and Iran. The agreement has eased concerns regarding disruptions in global energy supplies and shipping routes through the Strait of Hormuz. Reduced geopolitical risk has encouraged investors to increase exposure to equities, particularly in emerging markets such as India.

3. Strong Performance from IT Stocks

The IT sector emerged as one of the key drivers of today’s gains. Major technology companies such as TCS, Infosys, and Wipro witnessed strong buying interest ahead of the US Federal Reserve policy decision. Investors remain optimistic that stable US interest rates could support technology spending and improve earnings visibility for Indian IT exporters.

4. Improved Foreign and Domestic Flows

Market sentiment also received support from improving capital flows. Foreign selling has slowed considerably in recent sessions, while domestic institutional investors continue to provide strong support. Additionally, recent RBI measures aimed at attracting foreign investments into Indian financial markets have improved overall liquidity conditions.

5. Broad-Based Participation Across Sectors

The rally was supported by broad-based buying across sectors. Eleven out of sixteen major sectoral indices ended in positive territory, while midcap and smallcap indices also advanced. Strong participation from financials, IT, and select consumption-oriented stocks helped maintain positive momentum throughout the trading session.

Key Technical Analysis

Sensex Technical Outlook

The Sensex continues to trade in a strong uptrend and has successfully crossed the psychological 77,000 mark. The index has gained nearly 4% over the last four sessions, indicating sustained buying momentum. Immediate resistance is placed near 77,500, while support remains around 76,300. Momentum indicators remain positive, suggesting the possibility of further upside if global cues remain supportive.

Nifty 50 Technical Outlook

The Nifty 50 closed above the crucial 24,000 level and continues to display bullish strength. The index is currently testing the important resistance zone of 24,050–24,100, which coincides with a previous swing high. A decisive breakout above this zone could open the door for a move towards 24,300–24,500. Immediate support is placed near 23,850.

Bank Nifty Technical Outlook

Bank Nifty remains one of the strongest sectoral indices and continues to benefit from improving liquidity conditions and steady institutional buying. The index is holding firmly above key moving averages and maintains a positive structure on the daily chart. Immediate resistance is placed near 56,500–56,700, while support is seen around 55,500. Sustained strength above current levels could lead to fresh highs in the coming sessions.

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