Sensex, Nifty extend gains on softer oil prices, global cues

MUMBAI: Indian stock markets ended higher for the second straight session on Wednesday, supported by easing oil prices and positive global cues.

Investor sentiment improved after US President Donald Trump reiterated that talks are ongoing to bring an end to the conflict in the Middle East.

The benchmark indices saw strong gains, with the Nifty rising 1.72 per cent, or 392.70 points, to close at 23,306.45.

The Sensex also advanced 1.63 per cent, or 1,205 points, to settle at 75,273.45.

“Going ahead, 23300–23350 remains a critical zone. Sustaining above this range could provide short-term stability, while failure to hold may invite renewed selling pressure,” a market expert stated.

“On the upside, 23500–23600 continues to act as a strong supply zone, followed by 23800. On the downside, 23000 remains a crucial support backed by strong demand and OI build-up, with 22900 as the next support in case of weakness,” an analyst added.