Sensex-Nifty Hit Record Highs, Profit Booking Halts The Rally As Markets Finish Flat After Sharp Intraday Swings
The Sensex crossed 86,000 and Nifty climbed above 26,300 for the first time, but heavy profit booking pulled both indices off their highs. Despite intraday volatility, markets closed almost flat. Bajaj Finance, ICICI Bank and HUL were top gainers, while Eicher Motors, Maruti Suzuki and UltraTech Cement ended as major losers.
The NDA’s sweeping victory in the Bihar elections is expected to lift Indian stock markets. | The Sensex crossed 86,000 and Nifty climbed above 26,300 for the first time.
Mumbai: The Indian stock market created history on Thursday as both the Sensex and Nifty hit fresh lifetime highs. The Sensex surged past the 86,000 mark for the first time, while the Nifty crossed 26,300. These new milestones reflect strong optimism among investors about India’s economic momentum.
However, the excitement was followed by significant profit booking at higher levels. From its record peak, the Sensex slipped as much as 582 points during the day, while the Nifty fell 168.55 points from its high.
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By the end of the session, markets recovered part of the losses but closed almost flat. The Sensex ended the day with a small gain of 110.87 points or 0.12 percent at 85,720.38. The Nifty 50 closed 10.25 points or 0.04 percent higher at 26,215.55.
Expert View: Nifty’s New All-Time High Shows Investor Confidence
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said the benchmark indices hit new all-time highs, with the Nifty closing 10 points up and the Sensex rising 110 points. The Media index gained 0.60 percent, while Realty, Oil, and Gas sectors saw the most weakness. After a strong start, both indices touched fresh peaks but later gave up some gains.
He noted that the short-term market outlook stays positive, with strong support levels at 26,100/85,500 and 26,000/85,200. As long as the market holds above these, bullish momentum should continue. Resistance is expected at 26,350–26,400/86,000–86,300, while trading below 26,000/85,200 may weaken sentiment.
Top Gainers of the Day
Bajaj Finance led the rally with a gain of 2.58 percent. ICICI Bank also performed well, rising 1.39 percent. Other major contributors included Hindustan Unilever with a 1.21 percent rise and Bajaj Finserv with a gain of 1.11 percent. HCL Tech added 0.82 percent by the close.
Top Losers of the Day
On the downside, Eicher Motors dropped 1.56 percent, making it the biggest loser of the day. Maruti Suzuki fell 1.42 percent. UltraTech Cement declined 1.15 percent, followed by SBI, which slipped 1.14 percent. Tata Steel also ended weaker with a 0.97 percent loss.
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