Indian equity markets extended their upward momentum on Thursday, with benchmark indices closing higher for a second straight day on the back of broad-based buying and firm global cues. The Sensex climbed nearly 600 points, while the Nifty added close to 180 points, supported by strength in defensives, technology majors and key manufacturing plays. Overall, 32 of the 50 Nifty constituents ended in the green, signalling renewed risk appetite among investors.
The trading session was defined by steady accumulation across most sectors, even as certain pockets saw mild profit-taking. Defensives such as pharmaceuticals and FMCG maintained a constructive undertone, aided by stable earnings visibility. Technology stocks, buoyed by expectations of improved global demand and easing macro pressures, also contributed meaningfully to the indices’ gains. Manufacturing-linked counters, including select capital goods and industrial suppliers, continued to benefit from strong order flows and domestic capex momentum.
However, sentiment was slightly softer in energy, consumer durables and public-sector banking. These groups witnessed brief phases of consolidation as investors assessed near-term valuations and awaited fresh economic signals. Analysts noted that this pattern reflected a healthy rotation rather than a weakening of broader market strength.
Stock-specific action remained prominent. While most heavyweights moved higher, a few names bucked the trend. Whirlpool of India, Natco Pharma and Kaynes Technology India emerged as notable losers, slipping due to sectoral moderation and selective profit-booking after recent rallies. Market participants suggested that the declines were more technical than fundamental, with no major negative triggers emerging during the session.
Despite these isolated weaknesses, overall market breadth stayed supportive. Mid-cap and small-cap indices also closed in positive territory, indicating that buying interest was not limited to large caps. With global markets stable and domestic indicators holding firm, investors appeared comfortable taking incremental risk, though some caution remained around external triggers such as commodity price fluctuations and central bank commentary.
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