Stock Market Today: Sensex Settles 319 Points Higher, Nifty Over 23,300

The biggest Sensex gainers included Adani Ports, SBI, Bajaj Finserv, Airtel and Tata Motors while losers were HCL Tech, Nestle Infosys, HUL and ITC

The BSE Midcap index rose by 1 per cent, while the Smallcap indices gained 1.4 per cent

Source : ABPLIVE AI

In another rangebound session, the Indian market closed on a positive note, extending its winning streak for the third consecutive day on Thursday, driven by positive cues such as the Gaza ceasefire deal, lower-than-expected US CPI inflation, and a falling dollar and US bond yields, which lifted investor sentiment.

At the close, the Sensex was up 318.74 points, or 0.42 per cent, at 77,042.82, while the Nifty rose 98.60 points, or 0.42 per cent, to 23,311.80.

Supported by favourable global cues, Indian indices opened higher, pushing the Nifty to a session high of 23,391.65. Despite some profit booking, the market remained positive throughout the day, largely driven by gains in metal, power, and PSU bank stocks.

The biggest Sensex gainers included Adani Ports, SBI, Bajaj Finserv, Airtel and Tata Motors. Meanwhile, the biggest losers were HCL Tech, Nestle Infosys, HUL and ITC.

Sectorial Update

The BSE Midcap index rose by 1 per cent, while the Smallcap indices gained 1.4 per cent.

Among sectors, all except Consumer Durables, IT, FMCG, and Pharma ended in the green. Metal, media, oil & gas, PSU bank, realty, and auto sectors saw gains ranging from 0.5 to 2.5 per cent.

Aditya Gaggar Director of Progressive Shares, told Moneycontrol, “Despite a strong opening, the Index struggled to build on the initial momentum and remained rangebound, ultimately settling the trade at 23,311.80 with modest gains of 98.60 points. In terms of sector performance, PSU Banking led with gains of over 2 per cent, followed by the Metal and Energy sectors, while FMCG and IT were the laggards.”

He added, “The broader market also saw rangebound action, but Mid and Smallcaps managed to outperform the Frontline Index. The Index is currently facing significant resistance at the 23,360 level. A decisive move above this level is crucial for sustaining the positive momentum; otherwise, a retest of the 23,150 support level can be expected.”