The Nifty 50 maintained levels above 23,200 amid a largely rangebound session on Wednesday, whole the the Sensex rose 224 points as investors closely monitored the crucial US inflation data scheduled for later today.

Global markets also remained steady ahead of the U.S. inflation data, scheduled to be released after the Indian markets close. The data has the potential to influence the US monetary policy outlook, which could subsequently affect foreign investment flows into emerging markets like India.

A recent batch of robust US economic data has raised expectations for fewer rate cuts than previously anticipated, triggering a rally in the dollar and Treasury yields. This shift has put pressure on global markets.

On Wednesday, the Sensex settled at 76,724, paring gains from earlier in the session. The broader market, as measured by the Midcap Index, outperformed the benchmark indices, adding 223 points to finish at 53,899. Meanwhile, the Nifty Bank index posted a modest gain of 23 points, ending at 48,752.

The market’s performance was largely driven by positive stock-specific movements. Trent emerged as the top gainer in the Nifty, surging 4% following a positive note from Elara Securities.

Power stocks also saw strong buying interest, with expectations of a higher allocation in the upcoming Union Budget. Notably, NTPC rose by 3% amid this optimism.

On the back of a strong business update for Q3FY25, Adani Green’s stock rose more than 3%. Meanwhile, the BSE posted its third consecutive session of gains, up 13% for the week.

Several smaller stocks also saw significant movements. ASK Auto surged 6% as the company commenced production at its manufacturing facility in Karnataka.

Welspun Corp gained more than 4% after announcing a memorandum of understanding with Saudi Aramco.

Minda Corp jumped 5% after announcing the acquisition of a 49% stake in Flash Electronics for ₹1,372 crore.