The S&P BSE Sensex rose 398.44 points, or 0.49%, to close at 82,172.10, and the NSE Nifty 50 gained 135.65 points, or 0.54%, to finish at 25,181.80.
Top Movers
Metal shares surged 2.2% to lead gains across major indices as base metal prices climbed amid supply disruptions at key global mines, including Freeport’s Grasberg operation in Indonesia.
The heavyweight IT index advanced 1.1%, extending its six-session winning streak to roughly 6%. Tata Consultancy Services rose 1.1% ahead of its September-quarter earnings release later in the day.
Broader markets also firmed up, with the mid-cap and small-cap gauges up 1% and 0.6%, respectively.
Among individual movers, food-delivery firm Swiggy jumped 3.6% after Citi lifted its price target, citing an expected 21% revenue growth for the September quarter. Rival Eternal climbed 1.1% to a record high after Citi raised its target as well, pointing to strong momentum at its quick-commerce arm, Blinkit.
Expert views
The market resumed its upward momentum after a brief pause in the previous session, with the Nifty index forming a bullish candle on the daily chart, said Nilesh Jain, Head of Technical and Derivatives Research at Centrum Broking, adding that it took support at its 21-day moving average, near the 25,000 mark, but once again encountered resistance around the 25,200 level. “A decisive breakout above 25,200 could open the door for a fresh leg of the rally, potentially triggering short-covering and a swift move towards 25,350. Momentum indicators and oscillators on the daily chart remain firmly in buy mode, suggesting that any dip is likely to attract buying interest. The immediate support has now shifted higher to 25,000, and as long as the index holds above this level, a move towards 25,400 in the October series appears likely,” said Jain.
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