Market Brief: Benchmark Indices Extend Gains The Indian equity markets demonstrated resilience on Wednesday, marking a third consecutive session of gains. Domestic benchmarks were propelled by heavy buying in the metal and banking sectors, effectively neutralizing a localized drag in technology stocks. The **S&P BSE Sensex** jumped **283.29 points**, or **0.34%**, to settle at **83,734.25**. Simultaneously, the **NSE Nifty 50** rallied **93.95 points**, or **0.37%**, closing above the psychological hurdle at **25,819.35**. Sectoral Performance and Gainers Buying was broad-based as the midcap and smallcap segments outperformed the headline indices. Market capitalization for all BSE-listed firms rose by approximately **₹2 lakh crore**, reaching a total of nearly **₹472 lakh crore**. * **Nifty Metal:** The top-performing sector, surging **1.33%**. Key movers included **Tata Steel**, which rose **2.93%**, and **Hindustan Copper**, up **3.63%**. * **PSU Banks:** Public sector lenders maintained their record-breaking streak for a third day, with the index rising **1.31%**. **Punjab National Bank** and **Union Bank** were among the leaders hitting fresh **52-week highs**. * **FMCG & Heavyweights:** Strong support came from **ITC**, which climbed **2.21%**, and **Reliance Industries**, adding **1.26%**. Technology Sector Drag The **Nifty IT index** was the sole sectoral outlier, declining **1.23%**. Investors rotated out of software stocks following a brief relief rally earlier in the week. Major losers in this space included **Wipro (-1.73%)**, **Tech Mahindra (-1.60%)**, and **Infosys (-1.40%)**. Cautious sentiment persists in this sector as firms adjust to evolving shifts in service delivery frameworks. Global Cues and Geopolitics Global markets provided a mixed but supportive backdrop. In the U.S., the **Dow Jones** and **S&P 500** futures pointed toward a positive opening as investors parsed upcoming federal policy minutes. The commodities market reacted sharply to diplomatic shifts. **Brent crude** prices fluctuated near **$67.83 per barrel** as traders weighed ongoing negotiations between the **U.S. and Iran** in Oman. While earlier sessions saw a "war premium" due to military drills in the **Strait of Hormuz**, recent progress in de-escalation talks has eased immediate supply disruption fears, causing crude prices to edge lower from their January peaks. Currency and Fixed Income The Indian rupee saw a marginal appreciation, closing at **90.68** against the U.S. dollar, compared to its previous close of **90.72**. In the bond market, the yield on the **10-year benchmark federal paper** rose slightly to **6.676%**, reflecting a steady domestic macro environment. Volatility expectations cooled as the **India VIX** dropped **3.55%** to settle at **12.22**.