Sensex Tops 77,000, Nifty Nears 24,200 as Rally Extends to Fifth Day

Indian equity benchmarks extended their gains for a fifth straight session Thursday with the Sensex closing above 77,000 and the Nifty ending at 24,168, supported by easing crude oil prices and sustained buying interest across key sectors.

The BSE Sensex settled at 77,409.98, up 254.36 points or 0.33 per cent, while the NSE Nifty 50 gained 82.30 points or 0.34 per cent to close at 24,168.

Most sectoral indices ended in the green, led by gains in realty, healthcare, chemicals and pharmaceuticals. Banking stocks also remained supportive, while the IT pack emerged as the top laggard, with Nifty IT declining over 1 per cent.

Among the top gainers on the BSE were IndiGo, Trent, NTPC, BEL, HDFC Bank, SBI, Power Grid, Adani Ports, Tata Steel, Axis Bank and Sun Pharma. Infosys, Tech Mahindra, TCS and HCL Tech were among the major losers.

According to Riyank Arora, Associate Vice President - HNI & Derivatives at Hedged.in, the market's technical setup continues to remain positive after key breakouts in benchmark indices.

Is the Nifty breakout above 24,100 signalling stronger bullish momentum in Indian stock markets?

"The Nifty has confirmed a breakout above the 24,100-24,150 resistance zone, indicating strengthening bullish momentum. As long as the index sustains above 24,050, the positive trend is likely to remain intact," Arora said.

He added that the Sensex has also broken above the crucial 77,300 level, signalling improving market strength and opening room for further upside in the near term.

He noted that lower crude oil prices continued to support oil-sensitive sectors and helped markets maintain their positive trajectory.

Market analyst Vipin Dixena said the Nifty 50 is showing renewed bullish momentum, with the index holding above the key 24,000 support level.

"The advance-decline ratio reflects favourable market breadth, while the overall setup remains supportive for a buy-on-dips approach," he said.

"The IT sector lags (-1.5%) dragging Nifty IT, while Max Healthcare (+2.8%) and HDFC Bank (+1.9%) lead gains, indicating sector rotation favouring banking over technology," he added.

(With inputs from ANI)