Indian stock market closed today’s (October 26) choppy session on a higher note, led by gains in metal and pharma stocks, ending its four-day losing streak. The Nifty50 closed the trade 153.20 points or 0.68 per cent higher at 22,753.20, while the 30-stock BSE Sensex surged 482.92 points or 0.66 per cent to settle at 73,606.75. The market breadth remained in the favour of bulls. Out of 3,677 stocks traded on the NSE, 2,081 advanced, while 1,504 stocks declined, and 92 scrips remained unchanged. In today’s session, 20 stocks hit a fresh 52-week high, while 443 stocks were at a new 52-week low.
Dr Reddy’s Laboratories’ shares gained the most in the Nifty50, closing 6.6 per cent higher. It was followed by JSW Steel, BSE, Adani Ports, Eternal, and many others. On the other hand, Shriram Finance, Tata Consumer Products, Bajaj Finance, HDFC Life Insurance, and HDFC Bank were the five major losers in the index.
The benchmark Nifty index ended higher, adding 150 points to its previous closing value. The positional chart structure remains sideways within 22,180–23,200 spot range, with immediate resistance around the 22,800–22,850 zone, said Vipin Kumar, Assistant Vice President of Research at Globe Capital Markets.
“A decisive close above 22,850 could lead the index toward the upper band of the range at 23,200 in the near term; conversely, a fall below 22,500 could drag it back to 22,180. Volatility is expected to remain elevated amid rising crude oil prices and a volatile US 10-year bond yield,” Kumar added.
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