Indian stock markets rallied sharply on Wednesday with benchmark indices climbing on strong earnings momentum and heavyweight buying. The Sensex surged over 1,095 points while Nifty 50 advanced 339 points from previous close, driven by gains in ITC, Maruti Suzuki, Tech Mahindra, Coal India and M&M. Broader markets showed strength with small-cap stocks outperforming midcaps by around 1%. Realty and FMCG sectors led gains with over 2% advances each. However, rising crude oil prices capped further upside, with oil futures climbing on geopolitical concerns. The rupee weakened 13 paise to 94.81 against the US dollar. Gold prices declined amid inflation fears while markets await Fed chair remarks for direction on monetary policy ahead.
