Sensex Rises 484 Points, Nifty Tops 25,700; Asian Paints Gains 4%

Sensex Rises 484 Points, Nifty Tops 25,700; Asian Paints Gains 4%

Indian equity markets closed Friday with strong gains, led by FMCG heavyweights and Reliance Industries Limited (RIL).

  • S&P BSE Sensex: +484.53 points at 83,952.19

  • NSE Nifty50: +124.55 points at 25,709.85

Market Drivers

  • Sectoral support: Financials, autos, and FMCG stocks fueled the rally.

  • Large-cap leadership: Large-cap stocks outperformed mid- and small-caps, indicating a classic bull market pattern.

  • Institutional participation: Sustained buying interest boosted market sentiment.

Technical Outlook

  • Nifty50: Broke above 25,700 resistance, hitting a new 52-week high at 25,781.50. Next resistance: 25,800–26,000. Support: 25,600–25,450.

  • Bank Nifty: Reached 57,830, above previous peak of 57,650. Resistance: 58,000–58,300. Support: 57,500–57,250.

Open interest data in Nifty options suggests mild profit-booking at higher levels, with a Put-Call Ratio of 0.81, signaling balanced sentiment.

Stock Highlights

  • Asian Paints: Jumped 4%, driving broader FMCG gains.

  • Reliance Industries: Rebounded, contributing to Sensex momentum.

Expert Insights

  • Ponmudi R (Enrich Money): “Domestic sentiment stayed upbeat, with broad-based buying across sectors.”

  • Rupak De (LKP Securities): “Nifty moved above its four-month consolidation. A ‘buy on dips’ strategy could work well in the current bullish trend.”

Conclusion

India’s equity markets are displaying firm momentum ahead of the festive week, supported by institutional inflows and improving domestic sentiment. Traders should watch resistance zones closely as the market approaches new lifetime highs.

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