Stock Market Closes on a Strong Note: Sensex Gains 318 Points, Nifty Ends Near 23,600
The Indian stock market ended Thursday’s session on a positive note, with both the Sensex and Nifty closing higher. The 30-share Sensex surged 317.93 points (0.41%) to settle at 77,606.43, reaching an intra-day high of 77,747.46 and a low of 77,082.51. Similarly, the Nifty 50 gained 105.10 points (0.45%) to close at 23,591.95, after hitting an intra-day high of 23,626.75 and a low of 23,412.20.
Top Gainers & Losers
Gainers: Bajaj Finserv, NTPC, IndusInd Bank, Larsen & Toubro, and Bajaj Finance rose up to 2.85%.
Losers: Tata Motors led the declines, dropping 5.38%, followed by Sun Pharma, Hindustan Unilever, Kotak Mahindra Bank, and Bharti Airtel.
Broader Market & Sectoral Performance
Broader markets: The Nifty Smallcap 100 index jumped 1.15%, while the Nifty Midcap 100 index gained 0.37%.
PSU banks outperformed, with the Nifty PSU Bank index rising 2.50%, led by Bank of Baroda and Punjab National Bank.
Auto and Pharma sectors faced selling pressure. The Nifty Auto index dropped 1.04%, following Donald Trump’s announcement of a 25% tariff on imported vehicles.
Market Outlook
Experts suggest that the market has completed its corrective phase, forming a Piercing candlestick pattern. Immediate resistance for Nifty is seen at 23,800, with a breakout potentially pushing it toward 24,000. Support is placed at 23,400.
Despite global uncertainties, the market’s intraday recovery signals strong investor confidence. Going forward, institutional flows and trade developments will remain key market drivers.