Sensex jumps 918 points as banks, autos lead rally
Sensex jumps 918 points as banks, autos lead rally
Indian benchmarks rise as banking and auto shares pull the market higher, with Sensex up 918 points and Nifty near 22,350.
The Indian equity market ended higher on Friday, helped by a sharp rebound in banking and financial stocks following a massive sell-off in the previous session. Sensex rose 918 points to close at 77,550 and Nifty added 309 points to settle at 22,346. Market cap of BSE-listed firms rose to Rs 451.21 lakh crore.
Banking, capital goods, auto and consumer durables shares were the top gainers, lifting the broader indices. Gainers in the session included names like Asian Paints, ICICI Bank, M&M, IndiGo, Axis Bank, SBI and Bajaj Finance, while some heavyweights such as Tech Mahindra, HCL Tech, Infosys, TCS and Sun Pharma faced selling pressure, sliding up to 3.65%. As many as 110 stocks hit 52-week highs, while 20 shares touched 52-week lows.
Ajit Mishra, SVP Research at Religare Broking, noted that Nifty is witnessing a steady recovery and indicates a gradual rise toward the 24,300–24,700 zone. He added that a further cool-off in the India VIX, currently around 19, is supporting market comfort. Traders should maintain a positive yet cautious stance until Nifty decisively holds above the 23,500 level, i.e., the 200 DEMA, and focus on stock-specific opportunities, particularly in rate-sensitive and cyclical sectors, while watching earnings, crude prices, and global developments for further cues.
Vinod Nair, Head of Research at Geojit Investments, said the rally was helped by positive global cues and optimism about geopolitical de-escalation in West Asia. Buying interest was broad-based, with mid-cap and small-cap stocks outperforming large-caps. Sectorally, auto and realty shares gained, while banking stocks also supported the upmove, suggesting continuing appetite for equities amid improving sentiment.
