Nifty reclaims 25,300, Sensex rallies following dovish commentary from US Fed, realty stocks outperform

Nifty, Sensex snap two days of losses.

Dalal Street's benchmarks Nifty 50 and Sensex staged a strong rally in trade on October 15, as buying interest pushed the indices higher following dovish commentary from the U.S. Federal Reserve's Chair.

At close, the Sensex was up 575.45 points or 0.70 percent at 82,605.43, and the Nifty was up 178.05 points or 0.71 percent at 25,323.55. About 2393 shares advanced, 1587 shares declined, and 152 shares unchanged.

Sectoral indices ended mixed in trade. Nifty Realty outperformed, rising over 3 percent, while Nifty Financial Services and FMCG also gained more than 1 percent each. Metal, Consumer Durables, PSU Bank, IT, and Oil & Gas indices posted moderate gains. On the other hand, Nifty Media was the only major laggard, slipping 0.6 percent, while Pharma and Healthcare indices were largely flat.

The US 10-year yield declined while the rupee gained, indicating a momentum shift in FIIs to emerging markets like India, which may navigate the domestic market trajectory in the short to medium term, noted Vinod Nair, Head of Research, Geojit Investments. He added that the realty sector outperformed due to an ease in the interest rate cycle and attractive valuation, while positive global cues supported the IT and Metal indices."

On the technical front, as long as the index sustains above the crucial 25,000 mark, buying interest is likely to emerge on dips, keeping the index range-bound in the near term. Nifty remains boxed within a wider band of 25,000–25,300, with a breakout on either side expected to define a clear directional move.

"The index continues to trade comfortably above its 10-day and 20-day exponential moving averages (both positioned near 25,100), reinforcing a strong demand base. The 25,100–25,150 zone now acts as a key “buy-on-dips” pocket for positional traders," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

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