Sensex rises 965 points, Nifty reclaims 24,300; technical strategy for investors 

Benchmark indices ended sharply higher on Friday, with the Sensex soaring nearly 1,000 points and the Nifty reclaiming the 24,300 mark. The rally was driven by strong buying in information technology stocks, gains in heavyweight Reliance Industries and banking counters, while easing concerns over crude oil prices despite lingering geopolitical tensions in West Asia boosted investor sentiment.

Sensex surged 965 points, or 1.25%, to close at 78,151, while the NSE Nifty50 advanced 261 points, or 1.09%, to settle at 24,344. During the session, Nifty touched an intraday high of 24,367.30.

Large-cap stocks led the market’s advance, with heavyweight sectors attracting broad-based buying interest. The Nifty 100 index gained 0.88%, while the Nifty 200 rose 0.64%. The broader Nifty 500 also ended higher, adding 0.46%.

In contrast, broader markets underperformed the frontline indices. The Nifty Midcap 100 slipped 0.34%, while the Nifty Smallcap 100 declined 0.20%, indicating selective profit booking in mid- and small-cap stocks after their recent outperformance.

Meanwhile, the India VIX, widely regarded as the market’s volatility gauge, climbed nearly 2% to 13.1. The rise in volatility suggests that investors continued to exercise caution amid ongoing geopolitical uncertainties, even as benchmark indices posted strong gains.

Vinod Nair, Head of Research, Geojit Investments said, “There is a shift in market momentum, with strong traction moving toward large-cap stocks, led by the IT and banking sectors. This is supported by optimism around business updates and Q1 earnings expectations. The trend appears to be driven largely by domestic institutional investors rotating out of expensive mid- and small-cap stocks and into more attractively valued large caps that offer a better risk-reward profile. At the same time, buying interest is emerging in consumer durables on expectations of healthy domestic demand in H2FY27. The broader market remains constructive, with a combination of selective profit booking and buying, as the overall outlook for India continues to improve.”

Technical outlook 

Rupak De, Senior Technical Analyst at LKP Securities said, “The index has broken out of a five-day consolidation phase, indicating improving optimism among traders and investors. The overall trend remains positive as the index continues to trade above its critical moving averages. Additionally, the RSI has entered a bullish crossover, reinforcing the positive momentum. In the near term, the index is likely to remain strong, with the potential to advance towards the 24,800 level. On the downside, immediate support is placed at 24,200. A decisive fall below this level could trigger a phase of consolidation.”

Amol Athawale, VP Technical Research, Kotak Securities said, “We believe that, for positional traders, the 24,000/77,000 level (20-day SMA) and 24,200/77,600 will act as crucial trend-deciding levels. As long as the market trades above these levels, the bullish sentiment is likely to continue. On the upside, the rally could extend towards the 24,500–24,800/78,500–79,400 range. On the flip side, if the market falls below 24,000/77,000, the sentiment could turn negative. Below this level, traders may prefer to exit their long trading positions.”