Headline: Sensex Surges 1,700 Points, Nifty Crosses 22,850; Trent Jumps 6%, DMart Gains 5%
Markets stage strong recovery as FII selling slows and global cues improve; retail stocks lead the rally amid positive sentiment
Indian equity benchmarks witnessed a sharp rebound on Thursday, with the Sensex soaring over 1,700 points and the Nifty crossing the 22,850 mark. The rally was led by strong buying in retail, banking, and FMCG stocks, signaling a return of investor confidence after recent volatility.
At close, the Sensex settled 1,712 points higher at 74,850, while the Nifty rose 498 points to close at 22,912.
Top Gainers
- Trent: +6.2%
- DMart (Avenue Supermarts): +5.1%
- Other notable gainers included HDFC Bank, Reliance Industries, ITC, and HUL.
The rally came as Foreign Institutional Investors (FIIs) reduced their selling pace, while strong domestic institutional buying provided crucial support. Positive global cues, particularly a softer US dollar and easing crude oil prices, also aided the recovery.
Market analysts noted that the sharp upmove reflects bargain hunting after the recent correction. Retail stocks like Trent and DMart gained traction on expectations of strong consumption recovery in the upcoming quarter.
After weeks of FII-driven selling, we are finally seeing some stability. The market is rewarding quality retail and consumption plays,” said a senior strategist at a domestic brokerage.
With the Nifty now comfortably above 22,850, analysts believe the immediate resistance lies near 23,200–23,300 levels. A decisive move above this zone could signal the beginning of a fresh upward leg.
