The Indian stock market ended on a strong note on Thursday, with both the Sensex and Nifty closing higher. The 30-share Sensex gained 317.93 points, or 0.41 per cent, settling at 77,606.43. During the session, it touched an intra-day high of 77,747.46 and a low of 77,082.51. Similarly, the Nifty advanced 105.10 points, or 0.45 per cent, to close at 23,591.95, after recording an intra-day high of 23,626.75 and a low of 23,412.20.
Among Sensex constituents, Bajaj Finserv, NTPC, IndusInd Bank, Larsen & Toubro, and Bajaj Finance were the top gainers, rising up to 2.85 per cent. On the other hand, Tata Motors, Sun Pharma, Hindustan Unilever, Kotak Mahindra Bank, and Bharti Airtel were among the laggards, with Tata Motors registering the biggest decline of 5.38 per cent.
Broader markets also performed well, led by small-cap stocks. The Nifty Smallcap100 index climbed 1.15 per cent, while the Nifty Midcap100 index closed 0.37 per cent higher.
Among sectoral indices, most sectors ended in the green, except for Nifty Auto and Nifty Pharma. Auto stocks faced selling pressure following former US President Donald Trump’s announcement of a 25 per cent tariff on imported vehicles not manufactured in the US. The Nifty Auto index consequently dropped 1.04 per cent. Meanwhile, PSU banks outperformed, with the Nifty PSU Bank index rising 2.50 per cent, driven by gains in Bank of Baroda and Punjab National Bank.
Market sentiment remained positive, with buying interest in financial and infrastructure stocks, while auto and pharma shares experienced some selling pressure.
Experts noted that after a slow start to the monthly expiry session, the market saw a strong recovery from lower levels. While the index later oscillated within a narrow range, it ultimately closed at 23,591.95 with a gain of 105.10 points.
“The index appears to have completed its corrective phase, filling the bullish gap zone and forming a Piercing candlestick pattern. The immediate resistance is at 23,800, and a breakout above this level could push the index towards the psychological mark of 24,000. On the downside, support is seen at 23,400,” said Aditya Gaggar, Director of Progressive Shares.
Despite global uncertainties, the market demonstrated strong intraday recovery, rebounding from the day’s lows and hovering near the session’s highs. Investors will continue to track trade developments and institutional flows for cues on the market’s next move, according to Sundar Kewat, Technical and Derivatives Analyst at Ashika Institutional Equity.
-IANS
