Dhanteras bonanza on D-Street! Sensex jumps 1,718 points, Nifty tops 25,000
Indian stock markets defy global sell-offs as Sensex surges over 1,700 points and Nifty tops 25,000 on Dhanteras. Read the full market analysis.
The festive spirit of Dhanteras brought a massive wave of prosperity to Dalal Street on Friday, as Indian benchmark indices defied a global market slump to post spectacular gains. In a powerful rally, the Sensex surged by more than 1,700 points, while the Nifty reclaimed the psychological milestone of 25,000.
The Numbers: A Festive Surge
The BSE Sensex witnessed a dramatic jump of 1,718.01 points, marking a 2.17 per cent increase to close at 81,028.02, compared to the previous close of 79,310.01. Similarly, the NSE Nifty climbed 493.75 points, or 2.01 per cent, to settle at 25,030.35 from its previous close of 24,536.60.
While the broader market showed mixed results, the Nifty 100 stood out as the top performer, gaining over 1 per cent. The rally was primarily fueled by the financial services and banking sectors, both of which saw advances of over 2 per cent, followed closely by pharma and consumer durables.
Top Gainers and Laggards
The rally was supported by a wide array of heavyweight stocks. On the BSE, the top gainers included:
- M&M, ICICI Bank, and Titan
- HDFC Bank, Axis Bank, and Adani Ports
- Sun Pharma, Tata Steel, and NTPC
- Kotak Bank, Bharti Airtel, and Bajaj Finance
- ITC, L&T, Bajaj Finserv, and SBIN
- Maruti, Infosys, Trent, Reliance, HCL Tech, and BEL
Conversely, PowerGrid emerged as the top loser on the BSE. On the NSE, while most of the heavyweights listed above also gained—along with SBI Life, Coal India, and IndiGo—stocks like TMPV, Eicher Motors, and Grasim struggled and ended as the top laggards.
Defying Global Headwinds
The Indian market's performance was particularly striking given the sharp sell-off occurring across major Asian markets and global technology stocks, largely driven by investor anxiety over AI-related investments. Despite these mixed global cues, Indian equities remained resilient.
"Markets extended their winning streak for the seventh consecutive session on Friday, gaining over 1.5% despite mixed global cues," noted Ajit Mishra, SVP of Research at Religare Broking.
Mishra highlighted that sustained buying from Foreign Institutional Investors (FIIs) played a critical role in supporting domestic equities. He noted that while Brent crude rebounded toward $100 per barrel, Indian IT stocks remained relatively stable despite the global tech rout.
Expert Analysis: What Lies Ahead?
Market analysts suggest that while the recovery is encouraging, it is currently concentrated. Vipin Dixena, a market analyst, pointed out that large-cap stocks are showing strength, whereas mid- and small-cap stocks are still experiencing profit booking.
According to Dixena, several macroeconomic factors are bolstering India's stability, including:
- Lower crude oil prices and a stronger rupee.
- Renewed interest from foreign investors.
- Improving earnings visibility and reasonable valuations.
Technical Outlook for Nifty
While the Nifty has reclaimed key moving averages—indicating a strong short-to-medium term technical structure—experts warn of potential volatility. Ajit Mishra suggested that after a seven-session rally, some sectoral rotation and consolidation would be healthy. He emphasized that Nifty's ability to stay above 24,500 is crucial to maintain momentum toward the 25,200–25,500 zone.
Vipin Dixena added that because the Nifty now looks "extended" at 25,000, some profit booking is expected in the coming week, though any significant dip may be viewed as a buying opportunity.
Commodity Watch
At the time of reporting, commodity prices stood as follows:
- Brent Crude: Approximately USD 96.99 per barrel.
- Crude Oil: Approximately USD 89.11 per barrel.
- Gold: Trading around USD 4,069.36.