Sensex, Nifty Extend Winning Streak to 7th Consecutive Session
Unshaken by the Pahalgam terror attack, Indian stock markets maintained their bullish momentum, logging gains for the seventh straight trading session on Wednesday. The rally was primarily fueled by strong performances in IT stocks.
Mumbai: Unshaken by the Pahalgam terror attack, Indian stock markets maintained their bullish momentum, logging gains for the seventh straight trading session on Wednesday. The rally was primarily fueled by strong performances in IT stocks.
Table of Contents
Sensex Hits New Calendar Year High
The BSE Sensex opened on a robust note, jumping 548 points to hit 80,142. It further touched an intraday high of 80,255. However, due to selling pressure in banking stocks, the index briefly slipped into the red, touching a low of 79,507.
Despite the mid-day dip, Sensex recovered to close 521 points higher at 80,116, marking a fresh high for the calendar year. Over the last seven sessions, the index has gained a solid 8.5%, or 6,269 points.
Nifty Also Climbs, Gains 162 Points
The NSE Nifty followed a similar trajectory. It opened strong at 24,359 and slipped to 24,120 before rebounding. The index eventually closed 162 points higher at 24,329.
Over the past week, Nifty has jumped 8.6% or 1,930 points, supported by bullish sentiment and strong earnings reports.
Follow for more details: munsifdaily.com
IT Stocks Lead the Rally
The standout performers of the day were IT stocks. HCL Technologies led the pack, surging nearly 8% after announcing an 8.1% increase in net profit and a 6.1% rise in revenue for Q4 — its best single-day gain since September 2019.
Other IT majors also participated in the rally:
- Tech Mahindra: +5%
- Infosys: +4%
- TCS: +2.5%
Other Gainers: Auto, Pharma, Steel & FMCG
Apart from IT, several blue-chip stocks posted solid gains:
- Tata Motors
- Mahindra & Mahindra
- Sun Pharma
- Tata Steel
- Maruti
- Nestle India
- Larsen & Toubro
These stocks contributed to the bullish trend in auto, pharma, and infrastructure sectors.
Also Read: Indian Stock Market Opens Higher, IT Stocks Shine
Banking Stocks Under Pressure
On the flip side, banking stocks faced profit booking. Major losers included:
- Kotak Mahindra Bank
- HDFC Bank
- SBI
- Axis Bank
These stocks dropped between 1% and 2% each, slightly weighing down the broader indices during the day.
Broader Markets Show Strength
The broader market remained resilient:
- BSE MidCap Index: +1%
- BSE SmallCap Index: +0.2%
Sectoral Indices: IT Shines Brightest
Among sectoral performers:
- Nifty IT Index: +4.3% (Top gainer)
- Auto Index: +2.5%
- Pharma & Realty: +1.4% each
What’s Driving Market Sentiment?
According to market analysts, strong global cues and impressive Q4 earnings are key drivers behind the sustained rally.
“The positive undertone was largely inspired by strong corporate earnings and a strong rally on Wall Street, where US indices surged after President Donald Trump delivered comforting remarks about Federal Reserve Chair Jerome Powell and ongoing trade negotiations with China,” said Sundar Kewat of Ashika Institutional Equity.
