Sensex Surges 900 Points, Investors Gain ₹6 Lakh Crore In One Day

Mumbai: Indian stock markets witnessed a strong rally on Thursday, with benchmark indices closing sharply higher. The Sensex jumped 900 points, or 1.14 percent, to close at 80,015.90, while the Nifty 50 rose 285 points to end at 24,765.90.

The rally added significant wealth for investors. The total market capitalisation of BSE-listed companies increased by about Rs 6 lakh crore, rising from Rs 447.2 lakh crore in the previous session to around Rs 453 lakh crore.

Broad-Based Buying Across Sectors

The market saw broad-based buying across several sectors. Mid-cap and small-cap stocks also performed well during the session.

The BSE 150 MidCap Index gained 1.44 percent, while the BSE 250 SmallCap Index rose 1.38 percent. Sectorally, capital market, defence and metal indices gained more than 2 percent, indicating strong investor participation.

However, IT stocks remained under pressure, with the IT index ending in negative territory due to intraday profit booking and the strengthening of the Indian rupee.

Global Developments Boost Sentiment

Global developments also supported market sentiment. Reports suggested that Iran may consider abandoning its nuclear programme under certain conditions, which raised hopes of easing geopolitical tensions in the Middle East.

The Indian rupee also strengthened, closing 54 paise higher at 91.60 per US dollar. The currency had earlier touched a record low of 92.30 per dollar before the Reserve Bank of India reportedly intervened to support it.

These developments helped improve investor confidence and triggered buying in the market.

Short Covering After Recent Fall

According to market experts, the rally was also driven by short covering after the recent sharp fall in the market. Over the previous four sessions, the Sensex had declined by nearly 3,160 points, or about 3.8 percent, pushing the market into oversold territory.

This created conditions for a technical rebound, leading to a strong recovery in benchmark indices.

Expert View On Market Outlook

Shrikant Chouhan, Head of Equity Research at Kotak Securities, said the market maintained positive momentum throughout the day.

According to him, the formation of a bullish candle on daily charts suggests that the pullback rally may continue in the near term.

He said 24,600 for Nifty and 79,500 for Sensex will act as key support levels. As long as the market stays above these levels, the positive momentum could continue toward 24,950–25,000 on Nifty and 80,500–80,700 on Sensex.

However, if the indices fall below 24,500 on Nifty and 79,200 on Sensex, market sentiment could turn negative and traders may consider exiting long positions.