BSE Sensex was up by 0.25 per cent, or 184 points, to 74,567, while the NSE Nifty was at 22,686, up by 0.29 per cent or 66 points. A total of 3,869 stocks were actively traded; 2,867 advanced, while 895 declined and 107 stocks remained unchanged; 116 stocks hit a 52-week high and 37 stocks hit a 52-week low at 1.16 pm on Thursday.
Shrey Jain, Founder and CEO, SAS Online, a deep discount broker, said, “In the near term, all eyes are on government formation, which could affect how the market behaves, depending on what the different groups involved ask for.
“Yesterday, Nifty experienced notable volatility, rebounding sharply with all 50 stocks closing positively. Today, anticipated resistance for Nifty stands at 23,000 levels, while immediate support is expected around 22,200. Notably, the 22,800 call strike in Nifty exhibits significant open interest (OI) of approximately 41 lakh shares, while the 22,500 put strike holds substantial OI of around 34 lakh shares.
Looking ahead, Bank Nifty is projected to trade within the broader range of 48,000 to 50,000. With the election-related uncertainty fading, attention is anticipated to shift back to fundamentally strong stocks.”
Top gainers on the NSE include Shriram Finance (4.32%), SBI (3.89%), NTPC (3.14%), ONGC (2.67%), Coal India (2.65%). Top losers include Hero Motocorp (-2.68%), Hindustan Unilever (-2.21%), M&M (-2.07%), Nestle India (-1.83%), Divi’s Lab (-1.66%)
BSE Smallcap was up by 2.72 per cent and Midcap up by 2.08 per cent, indicating gains.