Sensex jumps 773 points, Nifty tops 25,250; profit booking trims gains

Indian equity benchmarks ended higher on Wednesday, although profit booking at elevated levels pared some of their intraday gains. The 30-share BSE Sensex pack jumped 772.75 points or 0.95 per cent to close at 81,879.40, while the NSE Nifty index advanced 210.40 points or 0.84 per cent to settle at 25,255.05. During the session, Sensex touched an intraday high of 82,520.40, while Nifty climbed to 25,424.35 level.

On the sectoral front, automobile, banking and FMCG stocks led the gains, while pharma and healthcare shares remained relatively subdued.

Broader markets also participated in the rally, with Nifty Midcap100 and Nifty Smallcap100 gaining 0.81 per cent and 1.59 per cent, respectively.

Ajit Mishra, SVP – Research at Religare Broking, said Nifty crossed the 25,400 mark in early trade, supported by favourable global and domestic cues. However, profit booking in heavyweight stocks across sectors pared some of the gains as the session progressed.

"Among the key triggers, foreign portfolio investors continued their aggressive buying, with cumulative November inflows reaching approximately $5.68 billion, the strongest monthly inflow since September 2024. Brent crude remained around $93 per barrel, well below its recent levels, easing concerns around imported inflation. Optimism around domestic demand and corporate earnings, along with moderating global enthusiasm for AI-linked investments, further enhanced the relative attractiveness of Indian equities," Mishra also said.

Vinod Nair, Head of Research at Geojit Investments, attributed the market's upward move to the Indian rupee's recent appreciation, supported by sustained foreign inflows and softer crude prices.

Nifty outlook

Vatsal Bhuva, Technical Analyst at LKP Securities, said, "Profit booking was witnessed during Wednesday's session, with Nifty forming a bearish candlestick on daily charts. Additionally, the index is trading in the overbought zone, indicating the possibility of a mild retracement towards the 25,000–24,800 levels."

Bhuva added, "On the upside, 25,500 is expected to act as an immediate resistance. However, the broader trend remains positive, and investors should continue to adopt a buy-on-dips approach. Any intermediate correction towards the mentioned support levels should be viewed as a buying opportunity rather than a trend reversal, as the Nifty is expected to resume its upward trajectory after a mild retracement."