Indian benchmark indices erased previous session losses to end higher with Nifty finishing near 25,200 on October 9, led by buying across the sectors.
After first few hours of rangebound trade, the market traded in positive territory for the most part of the session led by buying across the sectors, helping Nifty to close near 25,200, thus finishing near the day's high.
At close, the Sensex was up 398.44 points or 0.49 percent at 82,172.10, and the Nifty was up 135.65 points or 0.54 percent at 25,181.80. BSE Midcap index jumped 0.75%, while smallcap index ended flat.
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All the sectoral indices ended in the green with pharma, oil & gas, realty, metal, PSU Bank IT adding 0.5-1 percent.
Biggest Nifty gainers were HCL Technologies, JSW Steel, Tata Steel, SBI Life Insurance, Interglobe Aviation, while losers were Tata Consumer, Axis Bank, Maruti Suzuki, Titan Company and Bharti Airtel.
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In stock-specific action, Oswal Agro Mills shares shed 3% on CEO resignation, Tata Steel shares hits 52-week high on block deal of 1.2 million shares, Garuda Construction shares added 5% on winning project of Rs 144 crore, HFCL shares rose on export orders worth Rs 303 crore, GR Infraprojects shares gained 3.5% on bagging EPC project of Rs 290 crore.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 83,871.32 | 335.97 | +0.40% |
| Nifty 50 | 25,694.95 | 120.60 | +0.47% |
| Nifty Bank | 58,138.15 | 200.60 | +0.35% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Interglobe Avi | 5,782.50 | 194.00 | +3.47% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Bajaj Finance | 1,005.20 | -79.80 | -7.35% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 36116.90 | 428.60 | +1.20% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 8307.95 | -32.75 | -0.39% |
Senco Gold shares down 4% despite Q2 revenue jumping 6.5%, Prestige Estates Projects shares added 4% as Q2 collections increase 54%, TCS shares gained 1% ahead of Q2 earnings, Lupin shares rose nearly 2.5% on unveiling its strategic partnership program and to build a new pharmaceutical manufacturing plant in Coral Springs, Florida, USA.
More than 120 stocks touched their 52-week high on the BSE, including Hindustan Copper, Tata Steel, Eternal, Fortis Healthcare, Usha Martin, Aster DM Healthcare, Muthoot Finance, among others. Click to View More
Outlook for October 10
Rupak De, Senior Technical Analyst at LKP Securities
The Nifty moved higher, shrugging off yesterday’s negativity. However, the index remained below the resistance level of 25,250.
The short-term sentiment remains positive, with the index sustaining above the critical moving averages on the daily timeframe.
On the higher end, a decisive move above 25,250 might trigger a rise towards 25,600 in the short term, while on the lower end, support is placed at 25,000.
Ajit Mishra – SVP, Research, Religare Broking
Markets staged a rebound after yesterday’s dip, gaining nearly half a percent and continuing their consolidation phase. After an initial whipsaw, the Nifty index witnessed steady upward momentum led by buying in heavyweights across sectors and finally settled at 25,181.80. Sectorally, all major indices contributed to the move, with metals, IT, and pharma among the top gainers. Market breadth also remained positive, supported by noticeable interest in midcap and smallcap stocks.
The up move was largely driven by positive global cues, particularly strong overnight gains in AI-linked U.S. tech stocks and buoyant Asian markets. Additionally, the continued recovery in IT counters ahead of TCS results boosted domestic sentiment. The pause in foreign outflows further eased investor concerns, reflecting confidence in India’s earnings resilience despite global uncertainties.
After three days of consolidation, indications now suggest potential trend resumption. However, a decisive breakout above 25,200 would confirm the move, with upside targets seen at 25,400 and 25,650 levels. On the downside, a break below 24,950 may derail the positive tone and extend the consolidation phase. Amid this setup, traders should focus on identifying sectoral outperformers and use intermediate dips to accumulate quality names.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.
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