Benchmark stock market indices closed higher, breaking their 4-day losing streak. Auto, pharma, and RIL shares rallied, lifting the markets.
The S&P BSE Sensex added 447.55 points to close at 84,929.36, while the NSE Nifty50 rose 150.85 points to end at 25,966.40.
Vinod Nair, Head of Research, Geojit Investments Limited, said that global equities rallied as US CPI undershot estimates, reinforcing expectations of a softer Fed stance despite concerns over data reliability amid the shutdown.
“Investors now look for signals on the Fed’s 2026 easing trajectory. Meanwhile, the BoJ raised its policy rate by 25 bps to a three-decade high, a move that could reshape global liquidity trends. Domestically, strong global cues and bargain hunting lifted indices, with large-cap stocks leading gains. Oil prices continued to soften on oversupply concerns and subdued growth outlook. While sentiment remains constructive, near-term volatility may persist amid uncertainty over trade deal timelines and upcoming macro data releases,” he added.
The top five gainers were Bharat Electronics, which jumped 2.37%, followed by Power Grid Corporation of India up 2.25%, Tata Motors DVR gaining 1.98%, Asian Paints rising 1.41%, and Reliance Industries adding 1.34%.
On the losing side, HCL Technologies was the worst performer, slipping 1.14%. It was followed by Kotak Mahindra Bank, which fell 0.27%, ICICI Bank down 0.20%, Sun Pharmaceutical Industries easing 0.02%, and Axis Bank declining 0.07%.
Rupak De, Senior Technical Analyst at LKP Securities, said that the Nifty has witnessed a breakout from a falling wedge pattern, indicating improving market sentiment.
“Additionally, the index has reclaimed the 21-day EMA on the daily chart. After finding support near the 50-day EMA, the index recovered towards the 26,000 mark. Going forward, 26,000 will be a key level to watch; a decisive move above this level could propel the index towards 26,300. On the downside, immediate support is placed at 25,900, which is likely to act as the first line of defense for the Nifty,” he added.
