Mumbai: After a four‑day downturn, the Indian stock markets posted a modest rise on Thursday, largely thanks to a surge in IT shares while the rupee edged up against the U.S. dollar. Traders remained on thin ice, however, as they awaited the RBI’s Monetary Policy Committee meeting scheduled for Friday.
The Sensex finished at 85,265.32, up 158.5 points (0.19 %). The Nifty also saw a gain, closing at 26,033, a 47.75‑point (0.18 %) increase.
“The index mostly remained below the 21 EMA on the hourly chart, reflecting sustained selling pressure during the session,” analysts noted.
“Technically, the 26,100–26,150 zone is expected to act as crucial resistance, while support is placed at 25,900–25,950,” they added.
“A fall below 26,000 may trigger a quick correction towards 25,950–25,900, as the chart setup appears weak on the hourly timeframe,” market watchers stated.
The broader market stayed sluggish; the Nifty MidCap 100 hovered near parity with a slight dip, and the Nifty SmallCap 100 slipped 0.24 %. Among sectors, Nifty IT led the rally, jumping 1.4 %, followed by gains in Realty, FMCG, Auto, Pharma, Metal, and Chemical. Conversely, Nifty Media fell 1.45 %, and the Bank, Financial Services, Consumer Durables, and Oil & Gas segments slipped.
For the Sensex, the biggest winners were TCS, Bharat Electronics, Tech Mahindra, Infosys and HCL Tech, while Reliance Industries, Maruti Suzuki, Kotak Mahindra Bank, Titan and Eternal lagged behind.
Analysts said the market capped off on a positive note but held back, biding its time for the RBI’s key policy signals.
“IT stocks outperformed, buoyed by renewed optimism around potential Fed rate cuts and favourable currency tailwinds, which strengthened investor appetite for the sector,” experts added.
The rupee ended the day slightly stronger, gaining 0.28 paise to 89.91, with markets watching the RBI’s Friday policy decision closely after the currency hit record lows earlier in the week.
“Rupee range is seen between 89.80–90.25, with a breakout potentially taking it toward 89.25 on the upside or 90.75 on further weakness,” analysts said.
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