Mumbai

Benchmark equity indices BSE Sensex and NSE Nifty climbed more than 2 per cent in mid-session trading on Wednesday, supported by falling crude oil prices and strong cues from Asian markets amid easing concerns over the West Asia conflict.

Continuing the previous day’s upward trend, the 30-share Sensex advanced 1,667.14 points, or 2.25 per cent, to reach 75,735.59. Meanwhile, the Nifty gained 522.35 points, or 2.27 per cent, to trade at 23,434.75.

Among the top performers on the Sensex were Titan, Mahindra & Mahindra, Trent, UltraTech Cement, HDFC Bank and Bajaj Finance, while Tech Mahindra was the only stock trading lower.

Global oil benchmark Brent crude fell sharply by over 4 per cent to around USD 100.2 per barrel, offering relief to investors.

Across Asia, key indices such as South Korea’s Kospi, Japan’s Nikkei 225, China’s SSE Composite and Hong Kong’s Hang Seng were all trading in positive territory, reflecting improved global sentiment. In contrast, US markets had closed lower on Tuesday.

Market experts said optimism has returned on expectations that tensions in West Asia could ease. Positive signals from both the United States and Iran, including assurances on the safety of shipping through the Strait of Hormuz, have helped calm fears around energy supplies.

Foreign institutional investors (FIIs) continued to offload equities, selling shares worth Rs 8,009.56 crore on Tuesday, while domestic institutional investors (DIIs) remained net buyers with purchases worth Rs 5,867.15 crore.

Analysts noted that the Indian markets opened with strong gains, building on Tuesday’s rally, as hopes of de-escalation in the Middle East boosted investor confidence.

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On Tuesday, the Sensex had surged 1,372.06 points, or 1.89 per cent, to close at 74,068.45, while the Nifty rose 399.75 points, or 1.78 per cent, to settle at 22,912.40.