Equity benchmarks snapped their losing streak on Thursday, closing with moderate gains after a volatile session marked by sharp intraday swings, as investors took comfort from easing global trade tensions and positive cues from US President Donald Trump’s remarks at Davos. The BSE Sensex rose 397.74 points or 0.49 per cent to close at 82,307.37, while the NSE Nifty advanced 132.40 points or 0.53 per cent to settle at 25,289.90, after both indices surged over 1 per cent in early trade before paring gains.
“Indian equity markets ended Thursday with moderate gains after paring early advances, supported by positive global cues and easing geopolitical concerns,” said Gaurav Garg of Lemonn Markets Desk. “Sentiment improved following US President Donald Trump’s withdrawal of tariff threats against the EU and his optimistic remarks on a potential India–US trade deal, which encouraged short-covering and risk-taking.”
Gainers and Losers
Pharmaceutical major Dr Reddy’s Laboratories emerged as the top gainer on the Nifty50, surging 5.31 per cent to close at ₹1,218.60, followed by Bharat Electronics, which jumped 3.76 per cent to ₹417.80. Adani Enterprises rose 2.76 per cent to ₹2,088.20, while Adani Ports advanced 2.72 per cent to ₹1,416.10, and Tata Steel gained 2.71 per cent to ₹189.40. On the losing side, Eternal led the decliners, plunging 2.47 per cent to ₹276.50, followed by SBI Life Insurance, which fell 1.48 per cent to ₹2,024.90. Titan slipped 1.40 per cent to ₹4,022.10, Eicher Motors declined 1.32 per cent to ₹7,046, and Max Healthcare dropped 0.47 per cent to ₹999.50.
Broader markets outperformed the frontline indices, with the Nifty Midcap 100 surging 1.34 per cent to 58,191.30 and the Nifty Smallcap 100 advancing 0.76 per cent to 16,677.25, snapping recent losing streaks. Sectoral performance remained largely constructive, with the Nifty Next 50 rising 1.09 per cent to 67,592.80, Nifty Financial Services gaining 0.69 per cent to 27,149.95, and Nifty Bank advancing 0.68 per cent to 59,200.10.
“Markets bounced back sharply today and closed higher after a series of weak sessions, as relief on global trade and geopolitical fronts helped improve risk sentiment,” noted Ajit Mishra, SVP Research at Religare Broking. “The recovery was broad-based, with pharma, FMCG and energy emerging as the top-gaining sectors.”
Market breadth remained firmly positive, with 2,934 stocks advancing against 1,307 declines on the BSE, while 144 stocks remained unchanged out of 4,385 traded. Notably, 69 stocks hit 52-week highs, while 276 touched 52-week lows, and seven stocks ended in lower circuit. India VIX, the volatility gauge, declined 3.12 per cent to 13.35, indicating reduced fear among market participants.
“Indian equity markets closed today with a cautiously positive undertone, as benchmarks staged a relief-led rebound on improving global sentiment,” said Ponmudi R, CEO of Enrich Money. “However, the tone remained partially restrained by sustained weakness in the Indian rupee, reflecting continued dollar demand.”
Technical outlook
Technical analysts noted that the Nifty once again sustained above its crucial 200-day exponential moving average, reinforcing the strength of its medium-term trend. “The benchmark index Nifty continued to witness heightened volatility for the second consecutive trading session and formed a small-bodied candle on the daily chart, accompanied by shadows on both the upper and lower ends, reflecting indecision among market participants,” observed Sudeep Shah, Head of Technical Research at SBI Securities.
Looking ahead, analysts expect the consolidation phase to continue, with immediate resistance for the Nifty placed at 25,400-25,450 levels. “A decisive and sustained breakout above 25,450 would be crucial, as it may pave the way for an extension of the ongoing pullback rally towards the 25,600 mark in the near term,” Shah added. On the downside, strong support is expected at the 25,100-25,150 zone, coinciding with the 200-day moving average.