1 week ago
Sensex, Nifty End Losing Streak as Key Stocks Rally
India’s main stock market indexes rose on Thursday.
The Sensex and Nifty had been falling for several days before this increase.
Realty, private bank and IT shares helped lift the market.
Some investors bought shares that had become cheaper after the recent decline.
The Sensex finished at 77,537.72, while the Nifty ended at 24,231.85.
Experts said the Nifty may find support near 24,100 and 24,000.
They said a move above 24,300 could show more strength.
For the Bank Nifty, 57,200 to 57,000 was identified as an important support area.
Future market direction may depend on global yields, energy prices and geopolitical developments.
The Sensex gained 628.04 points, or 0.82%, to close at 77,537.72.
The Nifty rose 153.55 points, or 0.64%, to settle at 24,231.85.
The Nifty ended a seven-session decline, while the Sensex ended a four-day losing streak.
Realty stocks led the recovery, with the Nifty Realty index rising nearly 2%; private banking and IT stocks also gained.
Eternal, Kotak Mahindra Bank and Bajaj Finance were among the top Nifty gainers, while PSU banking and metal stocks posted relatively smaller gains.
- Who
- Indian equity-market investors, companies in realty, private banking and IT, and market experts.
- What
- The Sensex and Nifty ended their recent losing streaks as several major sectors and stocks rallied.
- Where
- Mumbai, India.
- When
- Thursday; the articles do not provide the calendar date.
- Why
- Investors bought beaten-down stocks after the recent correction, while gains in realty, private banking and IT shares supported the indexes.
Recovery Outlook
Risk Outlook
Near-term market direction
Recovery Outlook
A sustained move above Nifty resistance at 24,300, or a Bank Nifty breakout above 57,700–57,800, could strengthen buying momentum.
Risk Outlook
A decisive break below Nifty support at 24,000 or Bank Nifty support at 57,000 could weaken the recovery and bring fresh selling pressure.
Market sustainability
Recovery Outlook
Buying in beaten-down stocks helped improve broader sentiment and allowed the benchmark indexes to regain some lost ground.
Risk Outlook
The near-term outlook remains dependent on global yields, energy prices and geopolitical developments, with stability needed to support earnings momentum and foreign inflows.
Key facts
- Sensex close
- 77,537.72
- Sensex change
- Up 628.04 points, or 0.82%
- Nifty close
- 24,231.85
- Nifty change
- Up 153.55 points, or 0.64%
- Nifty support
- 24,100, followed by 24,000
- Nifty resistance
- 24,300 and 24,575
- Leading sector
- Nifty Realty, up nearly 2%
- Bank Nifty levels
- Support at 57,200–57,000; resistance near 58,000
Quotes
Market expert
Financial market analyst
“"The preferred strategy remains to buy on dips in the 24,100-24,000 zone with a stop-loss below 24,000. The unfilled gap between 23,890 and 23,820 remains relevant only if the index decisively breaks below the 24,000 support."”
thehansindia.com
freepressjournal.in
“"The near‑term outlook is likely to hinge on the direction of global yields, energy prices and geopolitical developments, with sustained stability needed to keep earnings momentum and foreign inflows intact."”
freepressjournal.in
Sources
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