Markets opened on a cautious note on Wednesday morning, with the Sensex and Nifty showing marginal gains despite lingering global headwinds. The Sensex, which closed at 76,200.68 on Tuesday, opened at 76,229.76 and was trading at 76,338.00, up 137.32 points or 0.18 per cent, as of 9.17 AM. The Nifty 50, which ended the previous session at 23,824.10, opened at 23,795.80 and was quoting at 23,856.55, up 32.45 points or 0.14 per cent.

The modest recovery comes after Tuesday's sharp selloff, when the Nifty shed 278.80 points — or 1.16 per cent — to close below the psychologically significant 24,000 mark, and the Sensex tumbled 893 points. A crash in global semiconductor stocks triggered a ripple effect across Asian markets, with South Korea's Kospi plummeting 10 per cent before staging a partial bounce on Wednesday morning.

Tech Mahindra was the top gainer on the Nifty50, rising 2.23 per cent from its previous close of ₹1,415.60 to trade at ₹1,447.20, with its stock touching a high of ₹1,452.20. Adani Enterprises followed with a gain of 1.39 per cent, trading at ₹3,004.00 against a previous close of ₹2,962.90. Infosys gained 1.35 per cent, moving from ₹1,029.30 to ₹1,043.20, while Dr. Reddy's Laboratories rose 1.34 per cent to ₹1,318.80 from ₹1,301.30. ICICI Bank added 0.93 per cent, trading at ₹1,350.70 compared to its previous close of ₹1,338.30.

The rebound in IT stocks — Tech Mahindra and Infosys among the top gainers — came after the sector faced heavy selling pressure in Tuesday's session. As Vikram Kasat noted ahead of Wednesday's open, "...a small rebound in software names may help indices stabilise after opening volatility," adding that "participants may look at a probable bounce in software stocks alongside strength in stocks that have led the markets in June."

On the losing side, Bajaj Auto was the biggest drag, falling 1.32 per cent from its previous close of ₹10,025.00 to trade at ₹9,893.00. Hindalco slipped 0.98 per cent to ₹977.10 from ₹986.80, reflecting continued weakness in metals. Bharti Airtel declined 0.79 per cent to ₹1,886.50 against a previous close of ₹1,901.60. HCL Technologies fell 0.67 per cent to ₹1,102.10 from ₹1,109.50, and Eicher Motors eased 0.60 per cent to ₹7,532.50 from ₹7,578.00.

The Metal Index was among the hardest hit in Tuesday's session, losing over 3 per cent, while pharma bucked the trend with nearly 1 per cent gains. Wednesday's early trade appeared to continue that divergence, with Dr. Reddy's among the top five gainers.

On the macro side, several concerns are keeping investors on edge. Brent crude has slipped to below $77 per barrel, easing one pressure point for India. Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments, said "...the crash in Brent crude to below $77 has removed the macro headwinds for India," but flagged a domestic concern: "...the new concern is the poor monsoon which is deficient by 43 per cent so far," warning that "sectors like FMCG and entry level 2-wheelers are likely to be impacted by decline in rural income," while noting that "pharmaceuticals with inelastic demand will be resilient and even outperform during a monsoon-deficient situation."

Gaurav Udani, Founder of ThinCredBlu Securities, struck a cautious tone, saying "...23,600–23,700 remains an important support zone," and advising that "until key resistance levels are reclaimed, traders should avoid aggressive long positions and focus on disciplined risk management."

Rajesh Palviya, Head of Research at Axis Direct, noted that "...a sustained move above 23,950 could trigger a relief rally towards 24,100–24,150," while warning that "a decisive breach below 23,780 may accelerate profit booking towards the 23,600 zone."

Jewellery and gold markets also drew attention ahead of the second half of the calendar year. Colin Shah, MD of Kama Jewelry, said that "...gold performance is expected to gradually get back on track in H2, provided there is a concretized peace deal in place," and that "India's prowess will be reflected in the diversification of markets through new FTAs that will support recovery momentum alongside the demand revival in mainstream export destinations."

Markets will continue to watch global technology stocks, monsoon data, and U.S. Federal Reserve commentary as key triggers for direction in the sessions ahead.

Published on June 24, 2026