BIZ DESK
Indian benchmark equity indices ended a positive day with the Nifty 50 reaching a significant milestone, a testament to the market’s robust momentum. The bullish trend was primarily driven by positive global cues and encouraging domestic developments, including expectations of a favorable trade deal and a potential rate cut by the US Federal Reserve. This sustained upward trajectory, marking a seventh consecutive session of gains for the Nifty 50, has instilled a sense of optimism among investors. While the broader market presented a mixed picture, with some sectors experiencing profit booking, the overall sentiment remains strong, reflecting investor confidence in India’s economic resilience.
The Sensex climbed 324 points, or 0.40%, to settle at 81,425, while the Nifty advanced 104 points to 24,973. Broader market indices also remained firm — the BSE Mid-Cap index rose 0.8% and the Small-Cap index gained 0.7%.
Index Movers
Out of the 30 Sensex companies, 19 ended higher.
- Top Gainers: Bharat Electronics surged 4.2%, HCL Tech jumped 2.6%, and Bajaj Finance rose 2.2%.
- Top Laggards: Mahindra & Mahindra fell 2.5%, Maruti Suzuki declined 1.5%, and Tata Motors eased 0.9%.
Sectoral Trends
Out of 21 BSE sectoral indices, 17 closed in the green.
- IT Pack: Emerged as the star performer for the second day in a row — Focused IT up 2.6%, IT index up 2.5%.
- Capital Goods: Gained 1.9% on strong institutional buying.
- Other Sectors: Banking, FMCG, and Pharma posted modest gains.
On the downside:
- Auto: Slipped 1.2% on profit booking in key auto majors.
- Consumer Discretionary: Lost 0.5%.
- Consumer Durables: Down 0.2%.
Market Outlook
Analysts noted that investor rotation into IT and capital goods is driving resilience despite volatility in global markets. They expect near-term momentum to hinge on upcoming U.S. inflation data and FII flows.