Benchmark stock market indices closed higher on Thursday after Sensex and Nifty touched all-time highs in a volatile day that also saw profit booking from investors.
The S&P BSE Sensex added 110.87 points to end at 85,720.38, while the NSE Nifty50 gained 10.25 points to close at 26,215.55.
Vinod Nair, Head of Research, Geojit Investments Limited, said that markets steadied after a volatile session where both the Nifty and Sensex briefly touched record highs before profit booking ensued.
“Throughout the year, retailers emerged as the primary investors. However, the overall market performance fell short of expectations, prompting a shift towards derisking by year-end. Market participants are now keenly watching tomorrow’s GDP print, along with key events such as the US-India deal and the RBI policy meeting,” he added.
The top gainers were Bajaj Finance, which rose 2.27%, followed by ICICI Bank up 1.24%, Bajaj Finserv gaining 1.11%, Hindustan Unilever up 1.05%, and HCLTech which added 0.82%. These stocks supported the index despite weakness in many large counters.
On the downside, the worst performers were Maruti Suzuki, which slipped 1.42%, followed by Eternal falling 1.35%, UltraTech Cement down 1.15%, State Bank of India losing 1.14%, and Tata Steel which dropped 0.97%.
Ponmudi R, CEO of Enrich Money, said that despite intraday volatility, Nifty continues to hold well above the crucial 26,200 psychological support, followed by 26,100, confirming that the broader trend remains structurally positive.
“The only near-term concern is that, after hitting lifetime highs, mild profit-booking has led to the formation of a potential short-term reversal candle. However, as long as the index holds above key support levels and avoids any aggressive selling pressure, the broader bullish structure remains firmly intact,” he added.
At the closing bell, the Nifty Midcap100 index gained 0.08% while Nifty Smallcap100 declined 0.53%. India VIX, the volatility gauge, fell 1.52%.
Among sectoral indices, Nifty Financial Services 25/50 climbed 0.46%, Nifty FMCG gained 0.05%, Nifty IT rose 0.22%, Nifty Media was up 0.84%, Nifty Pharma remained flat at 0.00%, and Nifty Private Bank advanced 0.34%.
Nifty Auto, Nifty Metal, Nifty PSU Bank, Nifty Realty, Nifty Healthcare Index, Nifty Consumer Durables, and Nifty Oil and Gas were in the red. Nifty Auto fell 0.33%, Nifty Metal declined 0.07%, Nifty PSU Bank dropped 0.58%, Nifty Realty slipped 0.72%, Nifty Healthcare Index lost 0.12%, Nifty Consumer Durables fell 0.65%, and Nifty Oil and Gas declined 0.73%.
“From a technical perspective, 26,300 remains the key resistance and immediate breakout trigger. A decisive close above this level could open the door for fresh all-time highs in the 26,350–26,450 zone. On the downside, the 26,150–26,000 zone continues to act as a strong support base, backed by consistent Put writing and positional buying interest. As long as Nifty sustains above this zone, the overall bullish structure remains intact,” said Ponmudi.
