Mumbai’s stock market wrapped up Thursday on a positive note, extending its winning run for the fourth straight day despite a sluggish start. Investors shook off early jitters, pushing the benchmarks higher amid global trade buzz.
The Sensex climbed 123.58 points, or 0.15%, to close at 81,548.73. It kicked off the day down at 81,217.30 from the previous close of 81,425.15 but quickly recovered. At one point, it surged over 400 points from the low, touching an intra-day high of 81,642.
The Nifty also ended in the green, gaining 32.40 points or 0.13% to settle at 25,005.50. This marked a strong bounce-back after dipping to 24,400 due to the US slapping a surprise 50% tariff on India, shaking up trade relations.
Vinod Nair, Head of Research at Geojit Investments Limited, explained the recovery: “The Nifty50 has now closed above the key 25,000 level. While the US tariff initially pulled it down, the index has steadily climbed back. We expect limited damage to India’s economy, thanks to the government’s smart strategies against long-term US policies and big domestic moves like GST reforms to counter trade hits.”
Top performers in the Sensex pack included NTPC, Axis Bank, Eternal, PowerGrid, Bharti Airtel, Sun Pharma, SBI, Asian Paints, and TCS. On the flip side, Infosys, Titan, Ultratech Cement, Hindustan Unilever, BEL, Trent, Tata Motors, and Tech Mahindra saw losses.
Most sectoral indices trended up, showing a mixed but mostly upbeat vibe. Nifty Fin Services rose 54 points or 0.21%, Nifty Bank gained 133 points or 0.24%, and Nifty FMCG added 103 points or 0.18%. However, Nifty Auto and Nifty IT bucked the trend with declines.
Broader markets stayed steady, with investors playing it safe. Nifty Small Cap 100 and Nifty Midcap 100 ended flat, while Nifty Next 50 and Nifty 100 notched small gains.
The Indian rupee weakened by 0.35% to 88.40 against the dollar, hit by mixed foreign institutional investor (FII) flows and a stronger greenback. Jateen Trivedi from LKP Securities noted, “Eyes are on upcoming US CPI data, which could spark more swings in the dollar and rupee. Crude oil prices remained choppy but stayed low, giving some relief.”
Market watchers say sentiment hinges on US-India trade deal updates, which might cause bigger shifts. For now, the rupee could hover between 87.85-88.10 as support and 88.55-88.70 as resistance, according to analysts. Keep an eye on these Indian stock market trends for what’s next in this volatile week.
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