Nifty and Sensex rebounded sharply today, with benchmark indices recording significant gains. The BSE Sensex closed at 80,436.84, up 1,330.96 points or 1.68 per cent, while the Nifty 50 ended at 24,541.15, gaining 397.40 points or 1.65 per cent.
The market breadth was positive, with 2,459 stocks advancing compared to 1,470 declines on the BSE. 107 stocks remained unchanged. The day saw 202 stocks hitting 52-week highs, while 46 touched 52-week lows. 325 stocks reached the upper circuit limit, and 264 hit the lower circuit.
Among the Sensex stocks, ECHM led the gains, rising 4.02%, followed by Tata Motors (3.47%), M&M (3.45%), TCS (2.91%), and HCL Tech (2.65%). Sun Pharma was the only Sensex stock to close in the red, marginally down by 0.03%.
In the broader market, top gainers included Suprajit (15.01%), Gravita (13.51%), Anant Raj (12.97%), PGEL (12.71%), and ISGEC (9.80%). The major losers were Hindustan Zinc (-9.25%), Gabriel (-4.80%), RTN India (-4.39%), TI (-4.04%), and Privi Speciality (-3.91%).
Santosh Meena, Head of Research at Swastika Investmart Ltd, attributed the rally to a shift in global sentiment and several positive factors. “Indian markets joined the global rally today, rebounding after a brief period of underperformance,” Meena said. He noted that concerns over earnings, valuations, and recent issues had been outweighed by improved global optimism.
Meena added, “If the Nifty can sustain above its 20-DMA, around 24,500, the bullish momentum could extend towards the 24,800-25,000 zone.” He identified 24,200 as a key support level.
The surge comes after a significant decline in the previous sessions, highlighting the volatility in the current market environment.