Mumbai: Indian equity benchmarks ended higher for the third consecutive session on Thursday, as investor confidence improved following the release of the annual Economic Survey, which painted a positive picture of India’s growth and fiscal trajectory. Markets opened on a cautious note amid global cues, but buying interest picked up through the session after the survey’s projections reassured investors on economic stability.
The Economic Survey projected India’s gross domestic product (GDP) growth in the range of 6.8-7.2 per cent for FY27, signalling sustained momentum in the economy. It also highlighted that the government is on track to meet its fiscal deficit target of 4.4 per cent in FY26, easing concerns over macroeconomic discipline and public finances.
Benchmark indices close in green
At the close of trade, the Nifty 50 rose 0.3 per cent, gaining 76.15 points to settle at 25,418.90. The Sensex advanced 0.27 per cent, adding 221.6 points to end at 82,566.37. Both indices managed to hold onto gains despite early volatility, reflecting improved risk appetite among market participants.
Market experts noted that the index is currently trading within a crucial technical range. A decisive breakout above this band could potentially push the Nifty towards the 25,600-25,800 zone in the near term. On the downside, 25,300 remains an immediate support level, with a stronger demand zone seen between 25,160 and 25,200.
Metals, infra lead the rally
Gains during the session were driven largely by metal and infrastructure stocks, which benefited from optimism around economic growth and government spending. On the Sensex, Tata Steel, L&T, Axis Bank, Eternal and NTPC emerged as the top gainers, rising by up to 4.5 per cent.
Among sectoral indices, the Nifty Metal index was the standout performer, jumping more than 3 per cent, reflecting renewed interest in cyclical stocks. In contrast, the Nifty Healthcare index ended as the top loser, followed by declines in FMCG, Chemicals and Pharma indices.
Broader market, rupee update
The broader market also displayed resilience, with the Nifty Midcap 100 and Nifty Smallcap 100 indices ending higher by 0.18 per cent and 0.20 per cent, respectively.
Meanwhile, the rupee traded flat to weak near 91.94, slipping by 0.12, as currency markets remained cautious ahead of the upcoming Union Budget. Overall, analysts believe optimism around India’s growth outlook continues to support domestic equities despite short-term volatility.
