Sensex Soars Over 1,700 Points As Indian Markets Shine on Dhanteras Day

Indian markets witnessed a major rally on Dhanteras, with the Sensex climbing over 1,700 points to cross 81,000 and Nifty closing above 25,000, driven by financial and banking stocks despite significant global market headwinds.

Indian Stock Market Rally on Dhanteras

Dhanteras poured 'dhan' into Indian stock markets as benchmark indices extended their rally on Friday despite a global market sell-off, with the Sensex surging over 1,700 points and the Nifty closing above 25,000. Sensex ended at 81,028.02, up 1,718.01 points or 2.17 per cent against the previous close of 79,310.01. Nifty on the other hand closed at 25,030.35, up 493.75 points or 2.01 per cent against the previous close of 24,536.60. Broader market indices ended on a mixed note, with the Nifty 100 emerging as the top gainer, rising over 1 per cent.

Sectoral Performance and Top Gainers

Sectorally, financial services and banking stocks led the gains, with both indices advancing over 2 per cent, followed by consumer durables and pharma. On BSE, M&M, ICICI Bank, Titan, HDFC Bank, Axis Bank, Adani Ports, Sun Pharma, Tata Steel, NTPC, Kotak Bank, Bharti Airtel, Bajaj Finance, ITC, Eternal, LT, Bajaj Finserv, SBIN, Maruti, Infosys, Trent, Reliance, HCL Tech, BEL among others were top gainers. PowerGrid was the top loser on the other hand.

Similarly, on NSE, M&M, ICICI Bank, Titan, HDFC Bank, Axis Bank, Adani Ports, Sun Pharma, Tata Steel, NTPC, Bharti Airtel, Sun Pharma, SBI Life, SBIN, LT, Eternal, Coal India, Bajaj Finance, SBI Life, Indi Go, Maruti, ONGC among others were the top gainers. TMPV, Eicher Motors, Grasim among others were the top laggards. In the commodity markets, Brent crude was trading at around USD 96.99 per barrel while crude oil was trading at around USD 89.11 per barrel at the time of reporting. At the same time, gold was trading at around USD 4,069.36.

Market Expert Analysis

Resilience Amid Global Cues

Ajit Mishra, SVP, Research, Religare Broking, noted, "Markets extended their winning streak for the seventh consecutive session on Friday, gaining over 1.5% despite mixed global cues. After opening on a flat note, the Nifty gradually strengthened through the session and settled near the day’s high at 25,030. The Sensex also reclaimed the 80,000 mark, reflecting resilience despite a sharp sell-off across major Asian markets and global technology stocks."

"Among the key factors, sustained foreign institutional buying continued to support domestic equities, with FIIs recording substantial net purchases in the previous session. The sharp global sell-off in technology stocks, driven by concerns over AI-related investments, weighed on Asian markets, although Indian IT stocks remained relatively resilient. Brent crude rebounded towards $100 per barrel following its recent sharp decline, while geopolitical developments and global risk sentiment remained key variables for investors," he noted.

As per Mishra, "Following the sharp seven-session rally, some consolidation and sectoral rotation would be healthy." "The Nifty’s ability to sustain above 24,500 will be important to preserve the positive momentum and pave the way towards the 25,200–25,500 zone. We recommend maintaining a selective positive bias, focusing on fundamentally strong stocks demonstrating relative strength, while keeping position sizes in check amid potential volatility arising from global developments," he said.

Technical Outlook and Macro Stability

As per market analyst Vipin Dixena, the Indian market's ability to remain positive despite global weakness is an encouraging sign. However, the recovery is not yet broad-based. Large-cap stocks are showing relative strength, while mid- and small-cap stocks continue to face profit booking. The return of foreign institutional investors is another positive development. "Lower crude oil prices, a stronger rupee and renewed foreign investment can support India's macroeconomic stability. Additionally, improving earnings visibility and relatively more reasonable valuations are making Indian equities attractive again," he said.

"Nifty has witnessed a strong recovery and reclaimed its key moving averages, indicating a significant improvement in the short- to medium-term technical structure. Nifty at 25,000 looks extended and a profit booking is expected in next week. However, any dip will be buying opportunity in nifty. And 24,700 - 24,800 is important support to watch," he added.

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