Indian equity markets ended Thursday’s session on a strong note, with benchmark indices surging to fresh highs. The Nifty 50 crossed the 26,200 mark for the first time since September 2024, while the Sensex gained 446 points, reflecting renewed optimism across sectors.
At close, the Sensex settled at 85,633.45, up 446.35 points (0.52%), and the Nifty 50 ended at 26,192.10, higher by 139.20 points (0.53%). This rally was supported by robust buying in IT, auto, and banking stocks, alongside strength in select midcaps.
Key Drivers of the Rally
- IT Sector Strength: Leading technology companies such as Infosys, HCL Tech, and TCS posted gains, buoyed by expectations of stable global demand and favorable currency trends.
- Auto Momentum: Hero MotoCorp hit a fresh 52-week high after receiving its second upgrade in two days, rising 2%. Eicher Motors also contributed to the rally.
- Banking and Financials: PSU banks and NBFCs saw strong traction, with M&M Finance and Mahindra Holidays climbing 5% each on positive group outlook.
- Midcap Action: Stocks like IEX, Hitachi, and Glenmark Pharma surged between 3–5%, highlighting investor appetite beyond large caps.
Market Breadth and Sentiment
Market breadth remained positive, with over 30 Nifty stocks closing higher. Analysts noted that domestic institutional investors (DIIs) continued their buying streak, offsetting mild profit booking in select telecom and FMCG names. Vodafone Idea slipped nearly 5% as traders booked profits after recent gains.
Investor sentiment was further boosted by expectations of stable inflation and optimism around India’s growth trajectory, even as global markets showed mixed cues.
Technical Outlook
The Nifty’s decisive close above 26,200 is seen as a bullish breakout. Immediate resistance is pegged near 26,300–26,350, while support lies around 25,950. Analysts suggest that if momentum sustains, the index could test higher levels in the coming sessions.
Bank Nifty also showed resilience, finding support near its 20-EMA on hourly charts, indicating potential for further upside.
Broader Context
This milestone comes at a time when global markets, particularly the Nasdaq, have retreated from recent highs. India’s resilience is being viewed as a sign of strong domestic fundamentals, with investors rotating into sectors offering earnings visibility and growth potential.
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Conclusion: The crossing of 26,200 by the Nifty marks a significant milestone, underscoring the strength of India’s equity markets. With IT, auto, and banking sectors leading the charge, and midcaps adding breadth, the outlook remains constructive. While global uncertainties persist, disciplined investing and sectoral rotation strategies are likely to remain key drivers of sustained momentum.
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