In a day of triumphant trading, India’s benchmark indices closed sharply higher on Thursday, with the Sensex leaping nearly 900 points to breach the 80,000 mark. The 30-share BSE Sensex surged 899.71 points (1.14%) to 80,015.90, and the NSE Nifty soared 285.40 points (1.17%) to 24,765.90. Defence stocks stole the spotlight, propelling the market to its greenest close in recent sessions.
Sectoral strength was evident, with Nifty India Defence topping the charts at 2.55% up. Metals (2.29%), PSEs (2.22%), infrastructure (2.21%), consumer durables (2.10%), commodities (2.05%), and energy (1.92%) followed suit, reflecting robust sectoral rotation. Only the IT sector bucked the trend, slipping 0.59% amid profit-taking.
Midcaps and smallcaps joined the party with gusto. Nifty Midcap 100 gained 1.52% to 57,792.55, while Nifty Smallcap 100 rose 1.58% to 16,538.80, highlighting depth in the rally.
Sensex heavyweights like Adani Ports, L&T, NTPC, BEL, IndiGo, M&M, Power Grid, Maruti Suzuki, Tata Steel, Bajaj Finance, Sun Pharma, UltraTech Cement, Bajaj Finserv, Kotak Mahindra Bank, HDFC Bank, Titan, Trent, Asian Paints, and Bharti Airtel posted impressive advances. Losers included Tech Mahindra, HCL Tech, HUL, ICICI Bank, SBI, Infosys, Eternal, TCS, ITC, and Axis Bank.
Experts point to bargain hunting in undervalued stocks, especially metals, PSUs, and infra plays, as the rally’s engine. Positive cues from international bourses lifted spirits, complemented by a sharp drop in India VIX by 15.56% to 17.85, signaling calmer waters ahead.
This market resurgence comes at a pivotal time, with eyes on policy decisions and global trade dynamics. Investors are optimistic that continued sectoral strength could pave the way for new highs.