Markets were on fire on Thursday, reaching heights not seen in seven long months. The BSE Sensex shot up by a whopping 1,200.18 points or 1.48 per cent, closing at 82,530.74. Meanwhile, the NSE Nifty wasn’t far behind, jumping 395.20 points or 1.60 per cent to finish at 25,062.10, finally breaking through the elusive 25,000 mark. This sudden surge in the market was largely attributed to the buzz around a potential trade deal between India and the US, which got investors all excited and trigger-happy with their buying spree. The rally really picked up steam in the latter part of the trading session after US President Donald Trump casually mentioned that India had thrown in a zero-tariff trade deal offer, reigniting hopes of a fruitful agreement being struck in the near future.
**A Rollercoaster Ride in the Market**
The day was not short of drama as the benchmark indices went on a wild ride, witnessing a stellar rally that left everyone breathless. The Nifty closing 395 points higher and the Sensex up by a whopping 1,200 points really set the tone for the day. From hitting the lowest point of the day, the market managed to rally over 600 to 1900 points, successfully crossing the 25,000/82500 mark and closing above it, which was received with cheers of joy and high-fives all around. All the sectoral indices closed in the green, with the Defense index taking the top spot with a 2.62 per cent gain. Auto stocks stole the show, leading the market charge with their optimism around potential tariff relief, closely followed by the realty and metals sectors. Individual stocks also had their moment to shine, with Hero MotoCorp stealing the limelight on the NSE by surging 6.17 per cent. JSW Steel and Tata Motors also had a good day, climbing 4.82 per cent and 4.30 per cent, respectively. Trent and Shriram Finance weren’t far behind, posting strong gains of 3.80 per cent and 3.38 per cent, respectively. However, IndusInd Bank was the odd one out, being the sole loser among Nifty constituents, barely managing to stay afloat with a 0.17 per cent decline.
**What Lies Ahead**
As the dust settles on this eventful day in the market, analysts are cautiously optimistic about the future. The positive momentum is expected to continue in the short term, with eyes set on further upside potential. Technical analysts are keeping a close watch on the Nifty’s trajectory, with immediate support placed at 24800 and resistance levels seen at 25250 and 25500. The easing of retail inflation to a six-year low and the depreciating Indian rupee against the US dollar have added to the investor sentiment, fueling hopes for potential interest rate cuts in the future. With continued FII inflows and improving macroeconomic indicators, the market seems poised for more gains. So, buckle up and enjoy the ride because the rollercoaster that is the stock market is far from over.