India’s benchmark indices ended the week on a strong note, with the BSE Sensex climbing 224 points to close at 81,207.17 and the NSE Nifty settling just shy of the 24,900 mark at 24,894.25. The rally was driven by gains in metal and financial stocks, supported by positive sentiment following the Reserve Bank of India’s recent policy stance and regulatory reforms.
Market Highlights
- Sensex: Up 223.86 points or 0.28%, closing at 81,207.17
- Nifty 50: Up 57.95 points or 0.23%, closing at 24,894.25
- Sectoral Leaders: Metal, financial services, and select auto stocks
- Top Gainers: Adani Enterprises, Tata Steel, ICICI Bank, Axis Bank
- Top Losers: Infosys, Dr. Reddy’s, HCL Tech
The indices opened flat but gained momentum through the session, buoyed by sustained buying in heavyweights and midcaps. The Nifty traded between 24,904.80 and 24,747.55, showing resilience despite global uncertainties.
RBI Optimism Fuels Rally
The RBI’s decision on October 1 to maintain the repo rate at 5.5% and introduce capital market-friendly reforms has injected fresh optimism into the markets. Investors welcomed proposals such as easing lending norms against listed securities and expanding access to capital market credit. These measures are expected to deepen liquidity and support broader market participation.
Sectoral Performance
- Metals: Tata Steel and JSW Steel led the charge, benefiting from global commodity strength and domestic infrastructure demand.
- Financials: ICICI Bank, Axis Bank, and HDFC Bank posted gains amid expectations of improved credit growth and stable interest rates.
- Auto: Stocks like Mahindra & Mahindra and Tata Motors remained firm, supported by strong Navratri sales and festive demand.
IT and pharma stocks, however, faced pressure due to recent tariff announcements from the U.S. administration, which weighed on export sentiment.
Market Outlook
With October 2 being a holiday and Friday marking the end of the trading week, volumes remained relatively low. Analysts expect momentum to pick up from Monday as traders return with fresh cues and global markets stabilize. Technical indicators suggest support near 24,700 and resistance around 25,000, keeping the short-term trend cautiously bullish.
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