- Sensex closed at 80,015, up 900 points
- Nifty ended at 24,765, gaining 285 points
- Metals, infrastructure and energy stocks led the market rally
The Sensex Nifty rally today pushed benchmark indices sharply higher on Thursday, driven by strong buying in metals, infrastructure, energy and auto stocks. The BSE Sensex surged 899.71 points (1.14%) to close at 80,015.90, while the Nifty 50 climbed 285.40 points (1.17%) to settle at 24,765.90.
The rally was broad based, with market breadth strongly positive as 2,645 stocks advanced against 1,426 declines.
Metals and infra stocks power the market surge
Heavy buying in infrastructure, metals and energy stocks helped drive the rally.
Among the top gainers on the Nifty:
- Adani Ports and Special Economic Zone rose over 4.5%
- Larsen & Toubro gained nearly 4%
- Hindalco Industries climbed around 3.6%
- NTPC Limited and Reliance Industries rose more than 3% each
Other strong performers included Coal India, Bharat Electronics, JSW Steel and Shriram Finance.
Sector indices reflected the momentum:
- Nifty Metal index rose over 2%
- Nifty Infrastructure index gained around 2.2%
- Nifty IT was the only major sector to close lower.
Refinery stocks rally on China export news
Refinery stocks also surged following reports that the Chinese government asked refiners to suspend exports of diesel and gasoline.
Shares of Chennai Petroleum Corporation jumped over 5%, while Mangalore Refinery and Petrochemicals Limited rallied nearly 6%.
Reliance Industries also gained close to 3%, benefiting from expectations of tighter global fuel supply.
Positive global cues support Indian markets
Global markets provided supportive cues.
Stocks in Asia rallied, with KOSPI surging over 9%, while Hong Kong’s Hang Seng Index and China’s SSE Composite Index also traded higher.
The rebound followed gains on Wall Street after reports suggested Iran may be open to diplomatic talks to ease the ongoing Middle East conflict.
Volatility eases after recent spikes
The market’s fear gauge, India VIX, fell nearly 10% to 19.04, indicating reduced volatility during the session.
Market experts say the recovery was partly driven by value buying after three sessions of declines.
According to strategist geopolitical developments remain the biggest risk factor for markets, particularly movements in crude oil prices.
ALSO READ | Russia diverts 9.5M barrels of oil to India
Outlook for investors
Analysts warn that markets may remain volatile as global geopolitical developments unfold. However, such volatility could also create opportunities for long term investors to accumulate quality stocks gradually.
Thursday’s rally lifted the Sensex above the 80,000 mark again, reflecting strong investor confidence despite global tensions. However, oil prices and geopolitical developments will continue to influence market direction in the coming sessions.
Disclaimer:
The information provided in this blog is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. Stock market investments are subject to market risks. Past performance is not indicative of future results. Readers are advised to consult a qualified financial advisor before making any investment decisions. The author and publisher are not liable for any losses or damages arising from the use of this information.
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