Sensex Up 828 Points, Nifty Above 24,200 Level As Market Rally Continues

Indian stock market continued its rally for the second consecutive session on Friday, with the Sensex rising by 827.57 points to end at levels above 24,200. Strength in IT, banking, realty and metal stocks supported the rally, while positive global cues further lifted investor sentiment.

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The Sensex settled at 77,569.39, up 1.08%, while the Nifty ended 244.10 points, or 1.02%, higher at 24,206.90. During the session, the index touched an intraday high of 24,228.45. Despite the day’s gains, both benchmark indices declined 0.2% for the week.

Broader Markets Outperform

The broader market outpaced the headline indices, with the Nifty Midcap 100 advancing 1.4% and the Nifty Smallcap 100 gaining 1.5%. Both indices closed at fresh record highs, reflecting continued buying interest beyond large-cap stocks.

Among the top performers on the Nifty were Jio Financial share price, HDFC Life, Adani Enterprises, SBI Life Insurance and Reliance Industries. On the losing side were Dr. Reddy’s Laboratories, Eternal, Bharti Airtel, Nestle India and Sun Pharma.

Sectoral Rally Led By Realty And PSU Banks

Sectoral indices ended largely in positive territory. The Nifty Realty index emerged as the top gainer, rising 3.5%, followed by the Nifty PSU Bank index, which advanced 3%. The Nifty IT index gained 2%, supported by buying after Tata Consultancy Services announced its quarterly results.

The Nifty Metal index added 1.5%, while the Nifty Bank index rose 1.4%. Oil & Gas, Private Bank, Energy, Infrastructure and Consumer Durables indices posted gains between 1% and 1.3%. The Auto index closed 0.72% higher.

Around 140 companies touched their 52-week highs on the BSE, including Capri Global, Jammu & Kashmir Bank, Aether Industries, Anand Rathi Wealth, Oracle Financial Services Software, Nuvama Wealth Management, Sona BLW Precision Forgings, Welspun Corp, Grasim Industries, Star Health, Nykaa, Delhivery and Jindal Saw.

Individual Stocks In Focus

Among individual stocks, Ion Exchange rose 17% after securing an international order worth ₹503 crore. Wheels India gained 4% after its board approved a ₹400 crore fundraising proposal.

Vikram Solar advanced 5% following a solar cell supply agreement with Evervolt Solar Technology India. Pace Digitek added 1.6% after its subsidiary signed agreements related to battery energy storage systems, while Waterways Leisure slipped 1.7% after announcing a 1:10 stock split.

The Indian rupee also ended slightly stronger at 95.32 against the U.S. dollar compared with the previous close of 95.38.

Market Outlook

Market participants will now turn their attention to the ongoing June-quarter earnings season, which is expected to influence stock-specific activity in the coming sessions. Inflows from domestic institutions and good monsoons are positive factors, while global crude oil market and geopolitical events are still under watch.

Technical outlook indicates that the Nifty index has been able to bounce back above its important moving averages, and a retracement at the 24,000 mark is expected immediately. On the higher side, the range of 24,350-24,500 is seen as the first level of resistance if the current trend holds.