A man walks near a screen outside the Bombay Stock Exchange (BSE) in Mumbai, India, August 28, 2025. REUTERS
Dec 24 (Reuters) – India’s equity benchmarks inched higher in early trade on Wednesday, tracking Asian peers after stronger-than-expected U.S. growth data, though losses in information technology stocks limited gains.
The Nifty 50 rose 0.15% to 26,216.35 and the BSE Sensex added 0.12% to 85,627.91, as of 10:10 a.m. IST.
Ten of the 16 major sectors advanced, but gains were modest. Small-caps and mid-caps added 0.4% and 0.2%.
Asian stocks rose 0.2%, supported by data showing the U.S. economy grew faster than expected in the third quarter on strong consumer spending.
The Nifty maintained a positive short-term trend despite recent consolidation and could extend gains toward 26,330 points, said Devarsh Vakil, head of prime research at HDFC Securities.
IT stocks fell 0.6% and capped the gains in benchmark indexes, after U.S. Department of Homeland Security amended regulations governing H-1B work visa, selection process to prioritize the allocation to higher-skilled and higher-paid workers.
Meanwhile, analysts said thin year-end trading volumes kept volatility contained. Trading volumes across global markets are usually thin at this time of the year ahead of the Christmas and New Year holidays.
Among stocks, Coal India rose 2.3% after its board gave in-principle approval for the listing of subsidiaries South Eastern Coalfields and Mahanadi Coalfields.
Vikran Engineering soared 12% after getting an order worth 20.35 billion rupees for development of 600 MW solar power projects in Maharashtra.
Ajanta Pharma gained 3.7% after a pact with Biocon for marketing weight-loss drug semaglutide.
Reporting by Vivek Kumar M; Editing by Subhranshu Sahu, Rashmi Aich and Nivedita Bhattacharjee
