Final Trade: Sensex surges 809 pts in 5th consecutive gain; Nifty crosses 24,700
Sensex rallies over 900 points to 82,281, Nifty crosses 24,700, driven by IT, banking, and financial stocks. Analysts forecast positive momentum with Nifty targeting 24,800, despite stretched valuations.
India’s equity markets continued their upward momentum on Thursday, driven by strong performances in key sectors. The BSE Sensex rallied over 900 points to touch 82,281, while the Nifty 50 surpassed 24,700, reflecting broad-based buying interest.
IT sector leads gains
The IT index emerged as the star performer, reaching an all-time high, buoyed by strong investor confidence and positive earnings momentum in the sector. Banking and financial stocks also witnessed significant traction, with the Bank Nifty contributing substantially to the indices' gains.
Market sentiment boosted by global and domestic cues
Favorable global market trends, including a drop in US bond yields and upbeat sentiments from Federal Reserve comments, bolstered investor confidence. On the domestic front, easing inflationary pressures and optimism around the Reserve Bank of India’s upcoming monetary policy have further lifted sentiment.
Outlook remains positive
With the Nifty targeting 24,800 and strong sectoral participation from IT, banking, and financials, analysts anticipate sustained momentum in the short term. However, they advise caution as valuations continue to stretch, particularly in a volatile global environment.
The overall market mood suggests a bullish outlook, with investors keeping a close watch on upcoming macroeconomic data and central bank policy actions.
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