Nifty surges past 22,900, Sensex jumps 905 points as Fed pause, crude dip lift sentiment
India VIX declines over 6% to around 15.14, signalling a meaningful easing in near-term volatility expectations
The Nifty 50 index reached 22,838.35, up 139.50 points or 0.61 percent, while the Sensex climbed to 73,783.04, gaining 537.01 points or 0.73 percent, by 12:43 pm on Thursday. This increase pushed the indices past the previously marked 22,800 resistance level, fueled by broad-based buying in infrastructure, banking, and energy sectors.
Despite a cautious market opening, Nifty began near 22,691, slightly lower than its previous close of 22,698.85, impacted by a lackluster Gift Nifty signal and ongoing uncertainty about the US Federal Reserve's next policy decision. The Federal Reserve maintained interest rates between 3.75 percent and 4.00 percent in a 10-2 vote, with Governor Cook and Cleveland Fed President Hammack voting in favor of a quarter-point hike, keeping a December increase on the table.
Adani Ports led the Nifty 50's gainers, surging 5.26 percent to ₹1,854 from ₹1,761.30 on heavy trading volume of 48.36 lakh shares worth ₹88,048.69 lakhs. Adani Enterprises followed with a 4.61 percent increase to ₹2,594 from ₹2,479.80, with 12.82 lakh shares traded worth ₹32,565.18 lakhs. Power Grid climbed 3.96 percent to ₹261.35 from ₹251.40, while Kotak Mahindra Bank advanced 3.38 percent to ₹454.85 from ₹440, reflecting renewed interest in private sector banking stocks.
Eternal rose 3.04 percent to ₹335.90 from ₹326, and Bajaj Auto declined 1.96 percent to ₹10,279 from ₹10,485. SBI Life Insurance slipped 1.22 percent to ₹1,646.30 from ₹1,666.70. Market breadth on the BSE was positive, with 2,283 stocks advancing versus 1,838 declining and 241 unchanged among 4,362 traded stocks. However, 129 stocks hit new 52-week lows, compared to 79 at 52-week highs, and 168 stocks were in lower circuits versus 158 in upper circuits, indicating that recovery was concentrated among larger-cap stocks.
WTI crude oil traded near $101.43 per barrel, and the rupee stood at 95.21 against the dollar, adding pressure to domestic sentiment alongside firm US yields and a resilient dollar. Asian Paints and Trent are scheduled to report earnings today and could influence stock-specific movements later in the session.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Nifty climbs past 22,800 at midday; Adani Ports surges 5%, Trent slips 2.4% thehindubusinessline.com
- Why markets rallied: Sensex jumps over 900 points, Nifty gains 1 per cent; 5 key reasons timesofindia.indiatimes.com
