MUMBAI — Indian equity markets ended a four-day losing streak on Thursday, lifted by gains in information technology stocks and a mildly stronger rupee, even as overall sentiment stayed cautious ahead of the Reserve Bank of India’s Monetary Policy Committee decision due Friday.
The Sensex closed at 85,265.32, rising 158.5 points or 0.19 per cent. The Nifty ended at 26,033, up 47.75 points or 0.18 per cent.
Analysts noted that selling pressure persisted through much of the session. “The index mostly remained below the 21 EMA on the hourly chart, reflecting sustained selling pressure during the session,” they said. According to technical analysts, the 26,100–26,150 zone is likely to act as key resistance, while support is expected around 25,900–25,950. “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 added.
Broader markets remained soft. The Nifty MidCap 100 finished nearly flat with a slight negative bias, while the Nifty SmallCap 100 slipped 0.24 per cent.
Among sectoral indices, Nifty IT led the gains with a 1.4 per cent jump. Realty, FMCG, Auto, Pharma, Metal, and Chemical indices also saw buying interest. In contrast, Nifty Media declined 1.45 per cent, and Bank, Financial Services, Consumer Durables, and Oil & Gas indices also ended lower.
Top gainers on the Sensex included TCS, Bharat Electronics, Tech Mahindra, Infosys, and HCL Tech. Major laggards were Reliance Industries, Maruti Suzuki, Kotak Mahindra Bank, Titan, and Eternal.
Analysts said the market managed a positive finish but remained guarded ahead of the RBI’s upcoming decision. “IT stocks outperformed, buoyed by renewed optimism around potential Fed rate cuts and favorable currency tailwinds, which strengthened investor appetite for the sector,” experts said.
The rupee also traded firmer, gaining 0.28 paise to close at 89.91 against the U.S. dollar as markets awaited Friday’s policy announcement, following the currency’s record lows earlier in the week. Analysts expect the rupee to trade between 89.80 and 90.25 in the near term, with a breakout potentially pushing it toward 89.25 on the upside or 90.75 if weakness resumes. (Source: IANS)
