Indian markets rallied on Thursday, led by IT and metals stocks, as investors turned bullish on headline corporate earnings.
The Sensex rose 398 points to 82,172, while the Nifty gained 136 points to close at 25,182. Metal stocks rose 2.2% after a recovery in base metal prices, driven by supply disruptions at key global mines.
The IT index rose 1.1%, continuing a six-session winning streak. Tata Consultancy Services climbed 1.1% higher than the September quarter results. The mid-cap and small-cap indices also rose, up 1% and 0.6% respectively.
Among individual investors, Swiggy rose 3.6% after Citi raised its price target, predicting strong revenue growth for the September quarter. Rival Eternal hit an all-time high with a 1.1% gain, supported by momentum in its Blinkit business.
Technical expert Nilesh Jain said Nifty had a support near 25,000 at its 21-day moving average, with resistance around 25,200. A decisive break could push the index to 25,350-25,400, while any dips are likely to trigger buying.
Globally, Asian shares hit new highs, led by AI-linked technology stocks, while European shares opened lower on banking weakness. Crude oil prices were steady, with Brent at $66.13 and WTI at $62.41. Gold held near $4,041, and the Indian rupee remained steady around 88.78 against the USD.
Markets are keeping an eye on corporate earnings, global tech momentum and commodity trends as investors brace for further moves in October.
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