Stock Market Ends Higher On IT, Pharma & Metal Buying

Domestic equity benchmarks ended Thursday’s session on a positive note, driven by value buying in IT, metal and PSU bank stocks.

The pharma sector saw strong buying after the U.S. clarified that no tariffs would be applied to imported generic drugs. Nifty Pharma advanced 228 points.

The BSE Sensex concluded the session at 82,172.10, advancing 398.44 points or 0.49%.

The 30-stock index opened higher at 81,900, compared with Wednesday’s 81,773.66.

The stock extended gains to an intraday high of 82,247.73, supported by broad-based sectoral purchases.

Nifty ended at 25,181.80, rising 135 points or 0.54%.

Market Gains Across Sectors

Analysts said, “The market resumed its upward momentum after a brief pause in the previous session, with the Nifty index forming a bullish candle on the daily chart. It took support at its 21-day moving average, near the 25,000 mark, but once again encountered resistance around the 25,200 level.”

“The immediate support has now shifted higher to 25,000, and as long as the index holds above this level, a move towards 25,400 in the October series appears likely,” analysts added.

Sensex rallies were led by Tata Steel, HCL Tech, Ultratech Cement, BEL, Sun Pharma, Eternal, and Trent.

TCS, Kotak Bank, L&T, Infosys, Hindustan Unilever, and NTPC also contributed to the gains.

Meanwhile, Axis Bank, Titan and HDFC Bank lagged.

Most sectoral indices ended higher amid value buying.

Nifty Fin Services rose 67 points (0.25%) and Nifty Bank gained 173 points (0.31%), while Nifty Auto added 64 points (0.24%).

Nifty FMCG increased 217 points (0.40%) and Nifty IT climbed 396 points (1.12%).

The broader market mirrored the rally, with Nifty Smallcap 100 up 109 points (0.61%), Nifty Midcap 100 surging 563 points (0.97%) and Nifty 100 rising 139.80 points (0.54%).

The rupee traded flat at 88.76, showing limited volatility as FII selling eased and crude prices stayed range-bound.

Jateen Trivedi of LKP Securities said, “However, the currency continues to hover near lower levels, keeping concerns of further depreciation, potentially toward the 90 mark if global sentiment weakens. Focus for the next couple of days is on Fed Chair Powell’s speech and key U.S. data on unemployment and nonfarm payrolls, all of which could drive sharp volatility in the forex market.”

Also Read: Sensex, Nifty Trade Flat In Early Session; Broader Markets Show Mild Strength