The domestic equity markets witnessed an explosive rally for the second consecutive trading session as benchmark indices Sensex and Nifty extended their recovery curve with absolute authority. Driven by aggressive value buying at lower technical thresholds, easing global crude oil benchmarks, and a powerful short-covering rally in the technology block, investor sentiment staged a complete turnaround. The structural rebound effectively wiped out mid-week jitters, signaling that long-term institutional buyers are capitalizing on corrections to build fresh portfolios despite lingering geopolitical crosscurrents.Inside the Market Numbers: Sensex and Nifty Deliver Stellar Percentage GainsThe mathematical matrix of Friday's closing session highlighted a clear dominance of market bulls across standard gauges. The 30-share BSE Sensex wrapped up the session with a massive jump of 827.57 points, or 1.08 per cent, settling comfortably at 77,569.39. During the high-octane trading hours, the index tested an intraday high of 77,642.23 against an initial defensive floor of 77,320.56. Simultaneously, the broader 50-share NSE Nifty gained 244.10 points, or 1.02 per cent, to close the week above the key psychological barrier at 24,206.90. The broader market participation remained largely balanced as the BSE MidCap Select Index accelerated by 1.74 per cent, though the BSE SmallCap Select Index experienced structural profit booking, sliding by 1.03 per cent.Technical Analytics and VIX Trajectory: Volatility Cools Off as Put Writers Shift UpwardMarket microstructure parameters indicate a robust revival of the prevailing structural uptrend. Technical analysts pointed out that the Nifty index has successfully breached its short-term falling trendline, backed by an hourly Relative Strength Index (RSI) bullish crossover. The derivatives segment registered a prominent upward shift in Put writing toward higher strike prices, confirming that options traders are building strong support bases. Furthermore, the India VIX (Volatility Index) slipped decisively below its 200-day moving average, illustrating a notable reduction in near-term market panic. The immediate resistance for the Nifty is now projected at 24,500, while the 24,000 zone remains a rock-solid support zone for the bulls.Top Gainers and Losers Ledger: Reliance Leads the Charge with Broad Market SupportOut of the elite 30 Sensex heavyweights, 25 entities concluded the session wrapped in green. Energy titan Reliance Industries emerged as the primary growth driver, surging 2.28 per cent, closely followed by Tech Mahindra, Bharat Electronics Limited (BEL), Axis Bank, and Tata Steel. Conversely, defensives and selected telecom players faced minor resistance, with Eternal losing 0.89 per cent alongside Bharti Airtel, Sun Pharma, Trent, and ITC. On the NSE index, the advance-decline ratio strongly favored the buyers, with 42 of the Nifty 50 constituents booking positive closings, leaving only eight laggards in the red zone.Rupee Rebounds Against the Greenback: Local Currency Appreciates by 14 PaiseIn the foreign exchange market, the Indian Rupee exhibited strong resilience against global pressures, gaining 14 paise to settle provisionally at 95.33 against the US Dollar. The currency appreciation materialized as the greenback index softened marginally in international markets and Brent crude oil prices showed stabilizing tendencies. Forex dealers noted that while persistent Foreign Institutional Investor (FII) capital outflows and escalating border conditions in West Asia put pressure on the local unit near the 95.4 to 95.5 consolidation band, the aggressive pullback in domestic equity benchmarks provided the necessary ammunition for the rupee to end the week on a positive note.
Around the web
