Indian equity markets extended their upward momentum on Thursday, with strong buying across key sectors pushing benchmark indices higher. The Sensex fell 135 points during trade, while the Nifty remained comfortably above the 23,700 level.
The rally was driven by improved global sentiment, expectations of stable crude oil prices, and steady domestic institutional inflows. Broader markets also joined the uptrend, with mid-cap and small-cap indices trading in the green.
Among the top gainers, ITC Limited saw strong buying interest as investors tracked steady performance in its FMCG and cigarette businesses. Nykaa also gained traction, supported by optimism in the consumer and retail sector.
On the losing side, select IT and metal stocks witnessed profit booking. Heavyweights like Infosys and Tata Steel came under mild pressure as traders locked in gains after recent rallies. However, the weakness was limited and did not impact the overall market trend.
Experts added that ongoing strength in select sectors, along with improving macroeconomic signals, is helping sustain the rally, even as investors remain cautious about global interest rate and geopolitical developments.
Analysts said domestic institutional inflows continued to support the market, while foreign investor participation remained stable. Short-term volatility persisted due to global cues, but sentiment stayed broadly positive.
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