After several days of continuous decline, the stock market saw a strong recovery on Thursday. Active buying by investors and positive signals from global markets changed the market sentiment, bringing back a rally in the indices. On the day of weekly expiry, Sensex and Nifty performed well and closed with gains. During this period, buying interest was seen in most sectors except the IT sector, which further strengthened the market’s momentum.
At the end of trading, the market closed with strong gains. The Sensex surged by 899.71 points, or 1.14 percent, to reach 80,015.90. Meanwhile, the Nifty closed at 24,765.90, up by 285.40 points, or 1.17 percent.
Along with the main indices, a good buying trend was also seen in midcap and smallcap shares. The Nifty Midcap 100 and Nifty Smallcap 100 indices strengthened by approximately 0.5 percent.
Market breadth also remained positive. During the entire session, approximately 2,302 shares registered gains, while 1,325 shares saw a decline.
These Shares Accelerated the Market
Several large blue-chip stocks made significant contributions to today’s rally. Heavyweight stocks like Reliance Industries, State Bank of India, and HDFC Bank registered gains of up to 3 percent, providing strong support to the market. However, a slight decline was also seen in some FMCG sector shares. Tata Consumer Products and Nestle India closed weaker by about 1 percent.
Sectors with the Highest Buying Activity
Regarding sector-wise performance, investors heavily bought shares in the Metal, PSU, Energy, Auto, and Oil-Gas sectors. Additionally, the Pharma and Realty sectors also closed with gains. Meanwhile, slight pressure was observed in the IT and FMCG indices.
Amidst this, the Rupee also strengthened. Against the dollar, the Rupee climbed 55 paise to close at 91.60 per dollar.
Major Reasons for the Market Rally
Several important reasons were behind the market’s strength on Thursday. The biggest reason was a slight easing of global tensions. According to reports, Iran has hinted that it might consider abandoning its nuclear program if the US offers a better proposal. This news reduced uncertainty in international markets and boosted investor confidence.
Additionally, after the recent market decline, investors saw an opportunity to buy at lower levels. Value buying was particularly observed in shares of the Realty, Metal, Oil-Gas, and Auto sectors, which further strengthened the market’s rally.
