MUMBAI– Indian equity markets ended higher on Thursday, buoyed by strong buying in IT, metal, and public-sector bank stocks. The pharma sector also saw a notable rally after the Trump administration clarified that it would not impose tariffs on generic drug imports.
The Sensex climbed 398.44 points, or 0.49 percent, to close at 82,172.10, after opening with a strong gap-up at 81,900. The benchmark touched an intraday high of 82,247.73, supported by across-the-board gains. The Nifty rose 135 points, or 0.54 percent, to end at 25,181.80.
The Nifty Pharma index advanced 228 points, or 1.05 percent, as investors cheered the U.S. decision on generic drug tariffs. Analysts said the Nifty formed a bullish candle on the daily chart, taking support near its 21-day moving average around the 25,000 mark while facing resistance near 25,200.
“The immediate support has now shifted higher to 25,000, and as long as the index holds above this level, a move toward 25,400 in the October series appears likely,” analysts noted.
Among the top Sensex gainers were Tata Steel, HCL Tech, Ultratech Cement, BEL, Sun Pharma, Trent, TCS, Kotak Mahindra Bank, L&T, Infosys, Hindustan Unilever, and NTPC. Axis Bank, Titan, and HDFC Bank ended lower.
Sectorally, most indices closed in the green. Nifty Fin Services rose 0.25 percent, Nifty Bank gained 0.31 percent, Nifty Auto advanced 0.24 percent, Nifty FMCG climbed 0.40 percent, and Nifty IT surged 1.12 percent. Broader markets followed the uptrend, with Nifty Smallcap 100 up 0.61 percent, Nifty Midcap 100 up 0.97 percent, and Nifty 100 up 0.54 percent.
The rupee traded flat at 88.76 against the dollar, showing limited movement as foreign institutional investor (FII) selling eased and crude prices remained stable.
“However, the currency continues to hover near lower levels, keeping concerns of further depreciation, potentially toward the 90 mark if global sentiment weakens. Focus for the next couple of days is on Fed Chair Powell’s speech and key U.S. data on unemployment and nonfarm payrolls, all of which could drive sharp volatility in the forex market,” said Jateen Trivedi of LKP Securities. (Source: IANS)
