Bihar Victory Triggers Market Rally: Nifty Near 26k, Sensex Up
Bihar Victory Triggers Market Rally: Nifty Near 26k, Sensex Up
Indian shares bounce back on NDA's Bihar win, with Nifty and Sensex inching higher and weekly gains in sight as traders bet on policy continuity.
India's key benchmarks rose on Friday, bucking weak global cues after the NDA secured a landslide win in Bihar. The Nifty finished at 25,910.05, up 0.1% (30.90 points). The Sensex settled at 84,562.78, up 0.1% (84.11 points). Both indexes logged a 1.6% weekly gain after two straight weekly declines. Market watchers attributed the rebound to optimism about policy continuity under the new mandate and a fresh round of short-covering that trimmed previous losses.
Analysts say the upside could extend if the market clears resistance near all-time highs, with the Nifty eyeing 26,200-26,300 in the coming weeks and possibly testing the earlier peak around 26,500-27,000. On the downside, several risk levels sit near 25,600-25,700 where dips may be cushioned.
Sectoral activity showed Nifty PSU Bank rising about 1.2%, while Nifty FMCG and Nifty Pharma added roughly 0.6% each. Bank Nifty inched up 0.2%, though Nifty IT fell about 1%, underscoring a rotation into value and financials rather than tech. Despite a tepid global backdrop, the market appears to be pricing in a steadier policy environment following Bihar’s results, with expectations of continued reforms and potential trade deal momentum between India and the US, the launchpad for which is reportedly in place.
Cover image source: Sensex rises 1,346 pts this week, Nifty above 25,900 as NDA leads in Bihar; what’s next? 🔗
