Indian Stock Markets on Thursday registered heavy gains with both the indices ending with nearly 1 per cent gains. Indices were supported by easing crude oil prices due to the positive geopolitical developments and strong buying in information technology shares.
At close, Sensex was up by 579.48 points or 0.75% at 77,502.12 while Nifty was at 24,175.70 gaining 169.85 or 0.71%.
Rupak De, Senior Technical Analyst at LKP Securities said, “Nifty has broken out of its recent consolidation, indicating improving market sentiment. Additionally, the index is sustaining above its critical moving averages, reinforcing the positive trend. The momentum oscillator RSI has also broken above its falling trendline, signalling strengthening momentum.”
“In the near term, the trend is likely to remain positive, with the index having the potential to advance towards 24,300–24,500. On the downside, immediate support is placed at 24,000. A breach below this level could drag the index back into a phase of consolidation.”
Vinod Nair, Head of Research, Geojit Investments Limited said, “Indian markets ended higher as easing tensions around the Strait of Hormuz pushed crude prices lower, while dovish remarks from the Fed Chair reinforced expectations of moderating inflation and a supportive global rate environment. Sentiment was further aided by optimism surrounding the India–Japan Summit, with investors anticipating deals on trade, defence, semiconductors, AI cooperation, a proposed rupee-yen settlement framework and deepening bilateral capital flows.
“Sectorally, the standout performer was the IT sector, which, supported by short covering, also rallied following the strengthening view that Indian IT firms will remain a key enabler of enterprise AI adoption. Going forward, market direction will be driven by the US non-farm payrolls data, the developments from the India–Japan summit, and the incoming Q1FY27 earnings results.”