Markets at 5-week high: Sensex soars 900 pts, Nifty above 23,200 on Fed boost; all sectors in green

Bulls hold firm as Nifty stays above 23,000, Sensex gains 500 pts on Fed boost; IT, FMCG shares gain

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Benchmark equity indices surged over 1 percent on Thursday, with the Nifty reclaiming the crucial 23,200-mark after over a month since February 13, buoyed by gains in IT stocks and strong global cues after the Federal Reserve maintained its rate cut projections for this year.

Sensex climbed 967.34 points or 1.28 percent, to 76,416.38 by 2 PM, while the broader NSE Nifty advanced 291.7 points or 1.27 percent, to 23,199.30.

Among the top gainers in the Nifty pack were Titan, Eicher Motors, Bharti Airtel, Bharat Petroleum Corporation and Bajaj Auto, rising nearly 4 percent.

On the other hand, Bajaj Finance, Apollo Hospitals Enterprise, Bajaj Finserv, UltraTech Cement and IndusInd Bank were among the laggards.

At around 12:10 PM, market breadth remained positive, with 2,275 stocks advancing, 1,208 declining, and 100 remaining unchanged.

"The domestic market is expected to sustain its upward trajectory, supported by strong momentum in global equities following the Fed’s indication of two rate cuts this year,” said Vikas Jain, Head of Research at Reliance Securities.

Midcap and smallcap stocks also turned positive, gaining over half a percent after an initial bout of volatility. Earlier in the session, both indices had slipped 0.2 percent each following an early surge.

All 13 sectoral indices were in the green, led by IT stocks with heavyweights Tata Consultancy Services, HCL Technologies, and Mphasis leading the gains. The auto and oil & gas sectors also saw buying interest, rising 1.3 percent and 1.28 percent, respectively.

Bank Nifty maintained its momentum, decisively crossing the 50,000 mark during intraday trade.

"The Nifty index has sustained its bullish momentum after a strong breakout in the previous session, indicating firm control by buyers,” said Dhupesh Dhameja, Derivatives Analyst at SAMCO Securities. "The index is now trading in a key resistance zone of 22,900-23,000, which could lead to a phase of consolidation. However, consistent buying interest on minor dips signals the bulls remain in command."

Technical indicators suggest that the Nifty is hovering just below its 50-day exponential moving average (EMA), a level that has acted as a stiff resistance in past rallies. The 22,700-22,800 range has now turned into a key support zone, with traders expecting pullbacks to attract fresh buying.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.