The stock market continued its upward trend in afternoon trading on Thursday, with both the Sensex and Nifty recording gains despite mixed global cues following the US Federal Reserve’s decision to pause rates. The BSE Sensex was up 278.34 points or 0.36% at 76,811.30, while the NSE Nifty rose 115.85 points or 0.5% to 23,278.95 at 12:30 PM.
Market breadth was positive, with 2,384 stocks advancing and 1,381 declining on the BSE. 142 shares remained unchanged, with 50 hitting their 52-week highs and 71 touching their 52-week lows. Circuit filters were triggered for 445 stocks, with 214 hitting the upper circuit and 231 the lower circuit.
Cipla led the gainers on the NSE, rising 3%, followed by Power Grid and Mahindra & Mahindra, both up 2.76%. Financial stocks showed strength, with Bajaj Finance gaining 2.67% and ONGC rising 2.45%. However, Tata Motors continued its decline, falling 6.20%, while ITC Hotels and Shriram Finance also saw losses.
According to Sarvjeet Singh Virk, Co-founder & Managing Director of Shoonya by Finvasia, market fluctuations are normal, and investors should focus on market insights rather than emotions when making decisions.
Sector-wise, the Nifty Bank index was up 0.23%, while Nifty Financial Services gained 0.41%. The Nifty Next 50 showed strong momentum, rising 0.51%, but the Nifty Midcap Select index declined 0.28%. Despite selling by FIIs, the market remained positive ahead of the RBI’s monetary policy meeting on February 7.
Overall, the market maintained its positive sentiment, with gains led by Cipla and Power Grid, despite Tata Motors’ decline. The session’s developments were closely watched by investors as they await signals on the interest rate trajectory from the upcoming RBI meeting on February 7.
