MUMBAI–Indian stock markets extended their rally for a seventh consecutive trading session on Friday, marking their longest winning streak in three years, as strong buying in banking and financial services stocks pushed benchmark indexes sharply higher during the Diwali period.
The BSE Sensex surged 1,718.01 points, or 2.17%, to close at 81,028.02, while the NSE Nifty 50 gained 493.75 points, or 2.01%, to finish at 25,030.35.
The advance lifted the Nifty above the psychologically significant 25,000 mark for the first time since February 27, 2026, giving the index its highest closing level in nine months.
The seven-session rally represents the longest consecutive stretch of gains for Indian equities in three years, reflecting improving investor sentiment amid strong demand for major banking stocks and positive corporate earnings.
Mahindra & Mahindra, ICICI Bank and HDFC Life Insurance Company were among the session’s leading gainers on the Nifty, helping drive the benchmark’s sharp increase.
Banking and financial services stocks played a central role in the rally, with the Nifty Private Bank index outperforming other major sectoral indexes.
Market participants also pointed to a shift in global investment strategies as investors reduced exposure to stocks associated with the artificial intelligence boom and moved capital into other sectors.
The gains extended a broader recovery in Indian equities, supported by easing concerns surrounding the conflict in West Asia and improving confidence following recent corporate earnings announcements.
Despite the strong performance of the benchmark indexes, gains were not widespread across the market.
The Nifty MidCap 100 index slipped 0.02%, while the Nifty SmallCap 100 fell 0.82%, indicating that smaller companies failed to participate in the rally.
Among sectoral indexes, private banking stocks led the advance, while the Nifty Media index recorded the weakest performance of the trading session.
Market analysts said the Nifty is approaching an important technical resistance range between 25,150 and 25,200.
“A decisive and sustained move above this range could reinforce the bullish momentum and open the door for further upside,” analysts stated.
On the downside, analysts identified 24,800 as an important near-term support level.
“On the downside, 24,800 is expected to provide immediate support. The index’s ability to sustain above this level will be crucial in maintaining the current upward trajectory, while a decisive breach could trigger near-term profit-booking,” market watchers noted.
The latest rally has strengthened the market’s near-term momentum, although the divergence between large-cap stocks and smaller companies suggests that investor buying remains concentrated in select sectors. (Source: IANS)
