Indian Markets Rally Over 0.8% in Broad-Based Advance
The Nifty 50 closed at 24,587.75, up 204.15 points or 0.84%, while the Sensex ended at 78,737.44, gaining 642.80 points or 0.82%. The rally extended gains from early trade, with the Nifty climbing within 72 points of its record high as bulls dominated the session.
Intraday momentum saw the Nifty touch 24,598.65 during the session, marking a gain of 215.05 points or 0.88% at one point. The Sensex surged over 1,000 points at its peak before settling with gains of 610-643 points. Both benchmarks closed well above their previous day's levels of 24,383.60 for Nifty and near 78,714 for Sensex.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,587.75 | +204.15 | +0.84% |
| Sensex | 78,737.44 | +642.80 | +0.82% |
Sectoral Surge Led by Metals and Chemicals
Sectoral performance showed broad-based strength. Metals and mining led the charge with a 10.47% surge, while chemicals added significant gains. The retail sector jumped 28.93%, marking one of the strongest sectoral moves. Auto stocks also participated in the rally, contributing to the market's upward momentum.
Professional services gained 4.73%, while sugar stocks rallied 4.34% and railways added 3.59%. Aviation and refractories sectors posted gains of 2.74% and 2.36% respectively. The e-commerce and aggregator space also closed higher, reflecting widespread buying interest across market segments.
Among heavyweights, Reliance Industries traded in a range of ₹1,293.60 to ₹1,309.70, closing at ₹1,292.90. Bajaj Auto moved between ₹11,329.50 and ₹11,590, settling at ₹11,432. Both stocks featured in the top gainers and losers list, indicating active stock-specific movement alongside the broader rally.
GIFT NIFTY Tracks Cash Market Higher
GIFT NIFTY closed at 24,653.50, up 266.50 points or 1.09% from its previous close of 24,387. The contract opened at 24,499 and rallied to an intraday high of 24,696 before settling near session highs. The low of 24,452.50 was recorded in early trade, marking an intraday range of 243.50 points.
The GIFT NIFTY session showed a steady climb through the day, with the contract holding above the 24,500 mark for most of the session. The derivative tracked the cash market's upward trajectory, maintaining a premium throughout and reaching its peak around 14:45 IST before modest profit-booking into the close.
| GIFT NIFTY | Level |
|---|---|
| Open | 24,499.00 |
| High | 24,696.00 |
| Low | 24,452.50 |
| LTP | 24,653.50 |
| Change | +266.50 (+1.09%) |
GIFT NIFTY heads into Session II at 24,653.50, holding firm above the 24,600 mark as global cues and overnight price action will guide the next leg of trading. The contract's 1.09% gain outpaced the cash market's 0.84% advance, reflecting strong derivative market sentiment.