Post-Market Report: Sensex Surges 773 Points, Nifty Closes Above 25,250 on Heavy FII Inflows and Cooling Crude

Market Performance Today

Indian benchmark indices resumed trading on a buoyant note following the Diwali holiday break, scaling fresh multi-month highs. The BSE Sensex closed 772.75 points, or 0.95%, higher at 81,879.40 after touching an intraday peak of 82,363.95. Similarly, the NSE Nifty 50 gained 210.40 points, or 0.84%, to finish at 25,255.05, having surged past 25,370 in early morning trade.

The banking sector spearheaded the benchmark rally, with the Nifty Bank index surging 1,051 points to settle at 60,792. While the morning session saw intense buying across the board, late-afternoon profit booking in select private banks and IT heavyweights trimmed some of Dalal Street's opening gains.

Top Movers (Sectors and Stocks)

Sectorally, public sector banks, automobiles, energy, and capital market equities were among the prime beneficiaries of today's upward movement. Conversely, the IT index witnessed moderate selling pressure, while FMCG and private banking showed mixed trends.

• InterGlobe Aviation (IndiGo): Surged 3.96% to ₹5,645, leading index gainers on the back of falling jet fuel and crude costs.

• Mahindra & Mahindra (M&M): Jumped 3.93% to ₹3,419.80, supported by strong festive demand and upbeat earnings momentum.

• Trent Ltd: Continued its upward march, advancing 3.00% to ₹3,212.90.

• State Bank of India (SBI) & Axis Bank: Rallied over 2.2% each, emerging as major pillars of the Nifty's advance.

• Tata Steel & ITC: Gained 2.38% and 2.21%, respectively, adding sustained strength to the broader indices.

On the flip side, select index heavyweights encountered resistance:

• ICICI Bank: Fell 1.39% to ₹1,566.90, acting as the biggest drag on the Nifty index.

• Nestle India: Declined 1.31% to ₹1,280.80 amid sector-wide rotation.

• Tech Mahindra & HCL Tech: Lost between 0.9% and 1.3% as global tech valuations prompted consolidation.

• Cochin Shipyard: Slumped 7.00% following lower-than-expected quarterly results.

Key Drivers of Today's Market

• Slumping Crude Oil Prices: Brent crude hovered near the $92 per barrel mark after falling toward multi-month lows, easing geopolitical friction concerns and providing significant relief to India's fiscal deficit and import bill.

• Strong Foreign Fund Reallocation: Following months of persistent outflows into global AI-focused technology stocks, foreign institutional investors (FIIs) have aggressively reallocated capital into domestic equities, registering several billion dollars in net inflows since the start of November.

• Strengthening Rupee: Supported by falling energy import bills and sustained foreign inflows, the Indian rupee opened over 20 paise stronger against the US dollar, boosting foreign investor confidence.

• Post-Festive Domestic Optimism: Robust consumer demand reported across the Diwali festive period combined with strong corporate earnings performance helped domestic sentiment remain elevated.

Broader Market Performance

The broader market demonstrated resilience, outperforming the headline indices and pointing to healthy underlying liquidity. The Nifty SmallCap 100 climbed 1.59%, while the Nifty MidCap 100 gained 0.81% (with the broader Midcap index gaining 497 points to 61,519).

Market breadth decisively favored the advances with a healthy 2:1 ratio. On the National Stock Exchange, 2,495 stocks advanced, while 1,166 declined, and 106 remained unchanged. In addition, 106 counters scaled fresh 52-week highs during the session, compared to only 25 stocks touching 52-week lows.