Nifty climbs on pharma-IT rally, lifting Indian shares
Nifty climbs on pharma-IT rally, lifting Indian shares
Indian stocks rise as Nifty holds above 25,900 with a pharma-IT rally fueling gains; midcaps rally and Shriram Finance eyes a record investment by MUFG Bank.
The Indian stock market is glowing with holiday cheer as the Nifty sits at 25,979, firmly above the 25,900 bull zone with about 90 minutes left to reclaim 26,000. Bank Nifty is supporting the move, up about 200 points to 59,112, while breadth stays positive with 1,922 advances versus 800 declines. Midcaps and small caps lead the charge, with Nifty Alpha 50 up around 1%, Small Cap 100 rising roughly 0.8%, and Midcap 100 advancing about 0.6%. Standouts include Shriram Finance touching a record high on news of a potential $4.5 billion investment, along with gains in Power Grid, Titan, Hindalco, Tata Elxsi, JK Tyre, and pharma stocks.
After a challenging week, Nifty respects the 21-day EMA, signaling the potential for a greener close to 2025 and keeping traders hopeful heading into year-end. The optimism has been broad-based, suggesting the rally isn’t confined to a handful of names but is spreading across sectors as investors monitor corporate news and macro cues.
Shriram Finance added a fresh spark by trading at a new high on the prospect of a strategic investment by MUFG Bank, underscoring how heavyweight buy-side interest can lift sentiment and keep liquidity flowing through the holiday season.
