Indian Stock Market Hits Record High as Sensex, Nifty Rally on Banking and Auto Strength

Mumbai: The Indian stock market hits record high on Friday as benchmark indices surged, driven by strong buying interest across banking, auto, metal, and power stocks. Positive domestic macroeconomic cues, resilient banking performance, and confidence in India’s medium-term growth outlook lifted investor sentiment, pushing the Sensex and Nifty to fresh all-time highs during the session.

At the close of trading, the BSE Sensex climbed 573 points, or 0.67 per cent, to settle at 85,762, while the NSE Nifty advanced 182 points, or 0.70 per cent, to end at 26,328. The rally reflected broad-based participation, with market breadth remaining firmly in favour of the bulls.

Indian Stock Market Hits Record High as Nifty, Bank Nifty Scale New Peaks

During intraday trade, the Nifty touched a new lifetime high of 26,330, surpassing its earlier record of 26,325. The Bank Nifty also jumped to a fresh all-time high of 60,152.35, supported by sustained buying across major banking stocks and PSU lenders.

Market activity remained robust throughout the session. By the closing bell, around 2,527 shares had advanced, while 1,347 shares declined and 135 shares remained unchanged, highlighting strong overall participation and positive market breadth.

Coal India and NTPC emerged as prominent gainers on the Nifty index, benefiting from renewed interest in power and energy-related counters amid improving demand outlooks.

Sectoral Performance Mixed as PSU Banks Lead the Rally

On the sectoral front, most indices ended in the green, reflecting broad optimism across sectors. Nifty PSU Bank was the top performer, gaining 1.78 per cent, supported by expectations of stable asset quality and healthy credit growth. Auto, metal, realty, consumer durables, and power indices also rose by about 1 per cent each.

The auto sector gained momentum following encouraging vehicle sales data, which reinforced confidence in demand recovery and rural consumption trends. In contrast, Nifty FMCG was the only sectoral index to close lower, declining 1.15 per cent as investors booked profits in select heavyweight stocks.

Broader Markets Outperform on Sustained Buying Interest

The broader markets outperformed the frontline indices, underlining strong risk appetite among investors. The Nifty Midcap 100 index gained 1.04 per cent, while the NSE Smallcap 100 rose 0.78 per cent, indicating continued interest in growth-oriented stocks beyond large caps.

Although the Nifty slipped to an early low of 26,118 in the opening minutes, steady buying emerged soon after. The index traded close to the day’s high for most of the session, reflecting sustained positive momentum and confidence among market participants.

Bullish Outlook Intact Despite Rupee Weakness

Market experts remain optimistic about the near-term outlook. According to analysts, a sustained move above the 26,300 level could accelerate the rally toward 26,500, with extended upside potential toward 26,700 if strong follow-through buying continues. Dips toward the 26,200 zone are expected to attract fresh buying interest, keeping the short-term bias bullish.

Meanwhile, the Indian rupee weakened past the 90-mark against the US dollar during the session, but currency pressure failed to dampen equity sentiment. Overall, analysts noted that expectations around the upcoming earnings season remain constructive, particularly for banking, infrastructure, consumer goods, and manufacturing-linked sectors, supporting the view that the Indian stock market hits record high on the back of strong fundamentals.

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