Latest News The Indian stock market staged a robust recovery on Thursday, with major indices posting significant gains. The Nifty, in particular, regained the crucial 22,800 level, driven by a surge in midcap stocks and positive sentiment across various sectors. The market breadth overwhelmingly favoured advances, with the advance-decline ratio standing at an impressive 7:1.
At the close, the Sensex soared by 692 points to reach 75,075, while the Nifty surged 201 points to settle at 22,821. The Nifty Bank index added 237 points to reach 49,292, and the Midcap index outshone, rising by a notable 1,147 points to hit 52,414. Notably, the midcap segment outperformed the frontline indices, showcasing the market's resilience and broad-based recovery.
The realty sector emerged as the day's top gainer, posting gains of over 4.50%, closely followed by the media and PSU banks. Conversely, FMCG and pharma stocks lagged behind, facing profit booking after recent gains.
The technology sector, buoyed by strong performances in the Nasdaq, led by Tech Mahindra and HCL Tech, emerged as one of the top gainers. Aditya Gaggar, Director of Progressive Shares, highlighted the market's oscillation between bullish and bearish sentiments, noting the formation of a Spinning Top candlestick pattern on the Nifty50. He indicated key support levels at 22,485, with immediate resistance at 23,080-23,130, underscoring the cautious optimism prevailing among investors.
FMCG giants witnessed profit booking, wit.
