Nifty Scales New Peak As Markets Regain Upward Momentum

Indian equity markets gathered strength on Thursday, reversing a subdued start as the Nifty index climbed to a fresh lifetime high.

The benchmark rose to 26,295.55, surpassing its earlier peak of 26,277 recorded on September 27, 2024. The milestone, achieved after 287 trading sessions, reaffirmed the market’s prevailing upward trajectory following a brief consolidation phase.

Analysts noted that the Nifty now holds firm support between 26,050 and 26,100, a zone that has repeatedly acted as a strong cushion. Resistance, they said, is likely to emerge in the 26,300–26,350 band, where selling pressure could temper short-term gains.

The Sensex also advanced, rising 240 points or 0.28 per cent to trade at 85,850. Bank Nifty continued to display resilience, backed by renewed buying interest at lower levels.

The banking gauge now rests on crucial support around 59,200–59,300, while the next significant resistance stands at 59,700–59,800.

A breakout above this level would signal the next directional phase, according to market observers.

The Nifty Bank index itself touched a new peak of 59,802.65 after gaining 0.4 per cent, contributing to the overall bullish sentiment.

Broad Market and Sectoral Movement

Broader indices posted modest advances, with the Nifty MidCap rising 0.16 per cent and the Nifty SmallCap edging up 0.07 per cent.

Among sectors, metals led the rally, as the Nifty Metal index climbed 0.5 per cent, followed by the Nifty Auto index with gains of 0.35 per cent.

Market specialists attributed the upbeat tone to sustained buying across major sectors, which helped lift benchmarks despite global uncertainties.

Foreign institutional investors (FIIs) continued their buying momentum, adding equities worth ₹4,778 crore on 26 November. Domestic institutional investors (DIIs) also remained active, purchasing stocks worth ₹6,247 crore during the same session.

Given the choppy global backdrop, analysts urged traders to remain cautious. They advised adopting a selective buy-on-dips approach, maintaining prudent leverage, and using tight trailing stop-losses alongside staggered profit-booking strategies.

The day’s performance, they added, reinforces the underlying strength of the Indian market as major indices continue to scale new highs despite intermittent volatility.

Also Read: Sensex, Nifty Surge To Near Record Highs On Broad-Based Market Rally