At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 40.16 points or 0.05% to 80,044.22. The Nifty 50 index rose 11.20 points or 0.05% to 24,205.70.
In the broader market, the S&P BSE Mid-Cap index rose 0.02% and the S&P BSE Small-Cap index added 0.73%.
The market breadth was strong. On the BSE, 2,442 shares rose and 1,275 shares fell. A total of 154 shares were unchanged.
Buzzing Index:
The Nifty Media index rose 0.42% to 1,951.35. The index added 3.10% in three consecutive trading sessions.
Saregama India (up 2.24%), Zee Entertainment Enterprises (up 1.77%), Network 18 Media & Investments (up 1.45%), Dish TV India (up 1.12%), Nazara Technologies (up 0.87%), Den Networks (up 0.58%), Sun TV Network (up 0.36%) added.
On the other hand, Hathway Cable & Datacom (down 8.31%), Tips Music (down 0.73%) and PVR Inox (down 0.66%) edged lower.
Stocks in Spotlight:
RailTel Corporation of India gained 4.29% after the company received a work order from the Kakinada Smart City Corporation for SITC and operations & maintenance of the existing communication center of KSCCL, Kakinada, located in Andhra Pradesh amounting to Rs 15.21 crore.
Zaggle Prepaid Ocean Services hit an upper circuit of 5% after the company entered into an agreement with Mastercard Technology (MasterCard) for 7 years.
Talbros Automotive Components zoomed 12.30% after the company, along with its JV’s, received orders worth Rs 475 crore for both the domestic and export markets from the leading OEM’s.
Global Markets:
Asian stocks traded lower on Wednesday amid lingering concerns over Donald Trump’s tariff plans, which had rattled emerging markets in the previous session. Speculation about the role tariffs would play in the president-elect's economic agenda intensified as reports surfaced that Jamieson Greer, a protégé of Robert Lighthizer, was being considered for US Trade Representative. This selection underscores the administration’s focus on protectionist trade policies.
In Australia, the consumer price index (CPI) inflation grew by 2.1% year-on-year in October, falling short of expectations due to government subsidies that helped reduce energy costs. However, core inflation, represented by the annual trimmed mean inflation, rose to 3.5% in October from 3.2% the previous month, pushing further above the Reserve Bank’s target range.
US stocks advanced on Tuesday, as strength in technology shares counterbalanced worries about potential tariff escalations under Donald Trump’s administration. The S&P 500 climbed 0.57%, the Dow Jones Industrial Average rose 0.28%, and the NASDAQ Composite gained 0.63%.
Among the Magnificent Seven tech stocks, five closed higher, led by Amazon.com Inc., which surged over 3%. The rally followed reports from Bloomberg that Amazon plans to reduce its reliance on NVIDIA Corporation by developing its own custom artificial intelligence chips.
Investors also weighed mixed signals on U.S. interest rates. Minutes from the Federal Reserve’s November meeting revealed a split among policymakers regarding the path of future rate cuts. They highlighted uncertainty about the 'neutral rate,' a level that neither stimulates nor restricts economic growth, as a key factor for their cautious stance.