The Indian stock market extended its gains for the second consecutive session on Thursday, with benchmark indices surging over 1% each. The powerful, broad-based rally was fueled by widespread optimism during the ongoing Q2 earnings season, with strong performances from heavyweights in the FMCG, banking, and auto sectors. The Nifty 50 closed near the crucial 25,600 mark, its highest level in a month.
The S&P BSE Sensex rocketed 862.23 points (1.04%) to close at 83,467.66. The NSE Nifty 50 also saw a significant jump, climbing 261.75 points (1.03%) to end the day at 25,585.30. The rally added approximately ₹3.5 lakh crore to investor wealth.
Key Market Highlights
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Sensex: Gained 862 points to close at 83,467.66.
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Nifty 50: Ended the session near the 25,600 level.
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Market Sentiment: The mood on Dalal Street was overwhelmingly bullish. On the NSE, about 2,206 shares advanced while 1,712 declined, indicating strong buying interest. The market's technical posture has turned positive, with the Nifty breaking out above a key falling trend line, suggesting potential for further upside towards the 25,800–26,000 levels.
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Broader Markets: The broader markets also participated in the rally, with the Nifty Midcap 100 and Nifty Smallcap 100 indices gaining 0.46% and 0.24%, respectively.
Top Gainers and Losers
Gains were led by FMCG and banking stocks, while some IT and financial services names lagged after their recent results.
| Top Gainers |
Top Losers |
| Nestle India (+4.6%) |
Eternal (Zomato) (-3.9%) |
| Tata Consumer Products (+3.1%) |
HDFC Life (-2.4%) |
| Titan Company (+2.5%) |
Shriram Finance (-0.5%) |
| Axis Bank (+2.3%) |
Infosys (-0.2%) |
| Kotak Mahindra Bank (+2.1%) |
Jio Financial Services (-0.2%) |
Sectoral Performance
It was a day of widespread gains, with almost all sectoral indices ending in the green.
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Top Gainers: The Nifty FMCG index was the standout performer, surging by 2.02%. The Nifty Auto, Nifty Bank, Nifty Consumer Durables, and Nifty Realty indices also saw strong buying, closing with gains of over 1% each.
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Lone Loser: The Nifty PSU Bank index was the only sectoral index to end in the red, with a minor loss of 0.4%.
Q2 Earnings Season in Focus
The ongoing Q2 earnings season was a major driver of stock-specific action today.
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Infosys: The IT giant reported a net profit of ₹7,365 crore and rupee revenue of ₹44,490 crore for the second quarter. The stock, however, ended as a marginal loser after the results were announced.
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Eternal (Zomato): The food delivery platform was the top Nifty 50 loser, plunging nearly 4% after it reported a 63% year-on-year drop in its net profit to ₹65 crore for the second quarter.
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HDFC AMC: Shares of HDFC Asset Management Company fell 3.4% despite the fund house reporting strong quarterly numbers.
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Oberoi Realty: The real estate firm's shares continued to rally, closing over 5% higher. This came a day after the company reported a 29% increase in its consolidated profit for the second quarter.
Major News and Market Movers
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Stocks to Watch: Several companies were in focus ahead of their Q2 results, including Wipro, Axis Bank, and Jio Financial Services.
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Global Cues: Positive global sentiment, driven by a rally in U.S. markets on the back of the AI trade and solid corporate earnings, also supported the domestic market's rise. Easing U.S. bond yields and a stable rupee further improved sentiment.
Frequently Asked Questions (FAQs)
Why did the market rally so sharply today?
The market's strong rally was driven by widespread optimism during the Q2 earnings season, with strong results from several companies boosting investor confidence. Positive global cues, a stable rupee, and hopes of an India-US trade deal also contributed to the bullish sentiment.
Which sectors led the rally?
The Nifty FMCG index was the top performer, gaining over 2%. The Auto, Bank, Consumer Durables, and Realty sectors also saw significant gains of over 1% each.
What were the key Q2 results announced?
Infosys reported its Q2 results with a net profit of ₹7,365 crore. However, Eternal (Zomato) was a key market mover, with its stock falling sharply after the company reported a 63% drop in its quarterly net profit.
What is the technical outlook for the Nifty?
Analysts suggest that the Nifty's breakout above a major falling trend line is a strong bullish signal. The index is now likely to head towards the 25,800–26,000 levels in the short term, with support seen around the 25,420 mark.