Benchmark stock market indices closed higher, breaking their 3-day losing streak as auto, financial, and private banking shares rallied, helping Dalal Street end in green.
The S&P BSE Sensex was up 938.93 points to end at 75,502.85, while the NSE Nifty50 gained 257.70 points to close at 23,408.80.
Vinod Nair, Head of Research, Geojit Investments Limited, said that the equity market staged a late-session rebound, supported by value buying in domestically oriented sectors such as auto, banking, and FMCG, a relief rally following the recent sell-off.
“Near-term challenges persist, valuations have moderated, narrowing the premium valuation gap across several key sectors. In the near term, investor sentiment will hinge on developments in the Strait of Hormuz, where any easing of supply chain disruptions could provide further support,” he added.
After the closing bell, UltraTech Cement Ltd led the Sensex gainers, rising 4.22%. It was followed by Trent Ltd, which gained 3.01%. HDFC Bank Ltd moved up 2.88%, while Mahindra and Mahindra Ltd added 2.86%. Eternal Ltd also ended higher, rising 2.80%.
Bharat Electronics Ltd saw the sharpest fall, dropping 2.32%. Sun Pharmaceutical Industries Ltd declined 1.25%, Power Grid Corporation of India Ltd slipped 0.98%, Bharti Airtel Ltd was down 0.82%, and NTPC Ltd fell 0.59% at the close.
“However, persistently elevated oil prices continue to weigh on broader market direction. Globally, attention remains focused on the upcoming U.S. Fed policy outcome,” said Nair.
“Rates are widely expected to remain unchanged, reflecting ongoing inflationary pressures and heightened geopolitical uncertainty,” he added.
