Market wrap: Bajaj Finance, Shriram Finance, Apollo Hospital, ONGC top gainers and losers on Nifty and Sensex on Thursday

Indian equity markets staged a sharp rally, with sentiment buoyed by the US midterm election verdict. Gains gathered pace on hopes that a more restrained Washington could create room for de-escalation in the Iran conflict and a softer stance on tariff policies.

The Nifty 50 surged 576 points, or 2.40%, to settle at 24,536.60, while the BSE Sensex rallied 2,008.61 points, or 2.60%, to close at 79,310.

Buying interest extended to the broader market, with the Nifty Midcap 100 rising 0.56% and the Nifty Smallcap 100 advancing 1.87%.


Sectorally, the Nifty Auto and Nifty Financial Services indices led the rally, jumping around 4% each. The Nifty PSU Bank, Nifty Realty and Nifty Private Bank indices also gained over 3% each.

Market breadth remained firmly positive on the NSE, indicating broad-based buying. Of the 3,723 stocks traded, 2,547 advanced, 1,084 declined and 92 remained unchanged.

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Here are today’s top gainers on the Nifty

Here are today’s top gainers on the Sensex

Here are today’s top losers on the Nifty

Here are today’s top losers on the Sensex

Technical View

Nifty has strengthened its technical outlook by reclaiming all key moving averages on the daily chart, indicating a bullish trend reversal. RSI has entered the overbought zone near 75, signalling the possibility of near-term profit booking or consolidation, said Vatsal Bhuva, Technical Analyst at LKP Securities.

However, the broader momentum remains positive. "Any dip towards 24,200 could act as immediate support, while 24,000 remains crucial positional support. On the upside, resistance is placed at 24,800 and 25,000. A buy-on-dips strategy remains advisable," said Bhuva.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here