Stock Market Today: Sensex Rises 374 Points, Nifty Ends Above 24,600

Domestic equity markets ended Thursday’s session with gains as weaker international crude oil prices encouraged investor optimism.

The BSE Sensex advanced by 374 points, or 0.48 per cent, to settle at 78,954.76, while the NSE Nifty added 11.35 points, or 0.05 per cent, to finish at 24,636.00.

According to market analysts, the 24,600 mark has become the Nifty’s immediate support level, while the 24,500 zone continues to offer stronger buying support.

Derivatives data showed the highest Put Open Interest at the 24,600 strike, reinforcing it as a key support level.

At the same time, the 24,700 strike recorded the highest Call Open Interest, indicating immediate resistance for the index.

Reliance Industries, State Bank of India and Bharat Electronics led the gains among Nifty stocks and contributed significantly to the market’s positive close.

PSU banking and chemical counters emerged as the best-performing sectors as investors increased their exposure to these segments.

The broader market, however, presented a mixed picture.

While the Nifty MidCap index declined by 0.44 per cent due to profit booking, the Nifty SmallCap index rose by 0.48 per cent.

Realty, media and automobile stocks remained under selling pressure and ranked among the session’s weakest performers.

Analysts observed that lower crude oil prices generally benefit the Indian economy by reducing import expenses and easing inflationary pressures.

Market experts also stated that the gradual implementation of the Closing Auction Session (CAS) is expected to enhance the credibility of benchmark closing prices and improve market efficiency. They advised investors to focus on companies’ long-term fundamentals instead of reacting to temporary benchmark fluctuations during the transition period.

Also Read: Stock Market Today: Sensex Opens 200 Points Higher, Nifty Trades Above 24,630