Sensex Closed Nearly 3,000 Points Higher, Infosys Surged 7.91%, Leading Top Five Gainers
Mumbai: Benchmark stock market indices closed after having witnessed a massive rally, with Sensex registering its best rally in a year. The rally was fuelled by the ceasefire between India-Pakistan, lifting investor sentiment. Aditya Gaggar, Director of Progressive Shares, said that the market witnessed a strong bullish session as easing cross-border tensions brought relief to investors.
Infosys led the market rally today, surging 7.91%, followed by HCLTech which jumped 6.35%. Tata Steel showed strong performance with a gain of 6.16%, while Eternal Exports climbed 5.68%. Tech Mahindra rounded out the top five gainers with an advance of 5.36%. Only two stocks ended in the red on Sensex, IndusInd Bank fell 3.57% and Sun Pharmaceuticals declined 3.36%.
Nifty Smallcap100 and Nifty Midcap100 indices posted strong gains of 4.24% and 4.12% respectively, while India VIX plummeted 14.97%, signalling a drop in market fear. Nifty Financial Services advanced 4.21%, while Nifty Auto gained 3.41%. Other notable performers included Nifty Private Bank (3.24%), Nifty PSU Bank (3.27%), Nifty Media (3.18%), Nifty Consumer Durables (3.17%), and Nifty Oil & Gas (3.13%).
Nifty FMCG moved up 2.64%, while Nifty Healthcare Index and Nifty Pharma posted more modest gains of 0.68% and 0.15% respectively. “However, given the sharp rally, a near-term pullback is anticipated, which could present more favourable entry opportunities. The key resistance and support levels are now seen at 25,180 and 24,770, respectively,” said Gaggar.
