Why are markets rallying today? Sensex surges nearly 1,000 points, Nifty tops 24,000 - Markets | Latest News Updates

Indian equity benchmarks moved sharply higher in early trade, with the Nifty 50 rising over 1 per cent to cross the 24,000 mark and the Sensex surged 990 points. While both indices gave up a small portion of their gains later in the session, they continued to trade firmly in the green, reflecting sustained positive momentum through the day.

The upmove in the market is being led primarily by financial and IT stocks, with heavyweights such as ICICI Bank, Infosys and Trent emerging as key contributors to the Sensex’s gains. Strength in these large-cap names has helped anchor the broader indices.

From a sectoral perspective, IT, pharma and private banking stocks are supporting the rally, whereas metals, automobiles and media stocks are facing selling pressure. The divergence across sectors indicates a selective buying trend, with investors focusing on fundamentally strong pockets rather than adopting a broad-based approach.

Key Factors Supporting Market Strength

The gains in lenders and financial majors have played an outsized role in pushing the indices higher, helping offset lingering concerns around potential US rate hikes and uneven monsoon progress. Market breadth remained positive. On the BSE, out of 4,328 traded stocks, 2,178 advanced while 1,963 declined, with 187 stocks unchanged.

Sectoral trends in today’s session show strength concentrated in financials, realty and technology, while defensives and commodity-linked segments lag behind. As of 2:15 PM, Nifty IT emerged as the top gainer, rising around 2.01 per cent, followed closely by realty which gained 1.93 per cent and private banks which gained 1.66 per cent, indicating strong buying interest in growth-oriented and rate-sensitive sectors. Financials broadly remained in focus, with Nifty Financials up 1.43 per cent and PSU Banks gaining 0.83 per cent, suggesting that easing macro concerns and supportive rate commentary are lifting sentiment in lenders.

On the flip side, defence stocks led the decline, falling sharply by 1.66 per cent, making it the worst-performing sector on the chart. Weakness was also visible in energy which fell 0.48 per cent, media fell 0.16 per cent and metals fell 0.04 per cent, reflecting profit booking and pressure in commodity-driven pockets. Consumer-facing segments showed only mild gains, with FMCG rising 0.13 per cent and consumption spiking 0.24 per cent inching higher, while auto remained nearly flat at 0.10 per cent, indicating subdued momentum.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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