Sensex surges over 1,000 points, auto stocks lead rally 

Posted on by

Indian equity markets extended their morning gains significantly by midday trading on Thursday, with the benchmark BSE Sensex climbing over 1,000 points, driven by a strong performance in auto and financial services stocks. The Sensex jumped 1,017.45 points or 1.30 per cent to trade at 79,524.86, while the broader NSE Nifty rose 312.40 points or 1.32 per cent to reach 24,055.30 around 12.40 PM.

The market breadth remained firmly positive, with 2,081 stocks advancing compared to 1,178 declining on the BSE. Trading activity was robust, with 3,375 stocks participating, while 87 stocks touched their 52-week highs against 13 hitting their 52-week lows. Additionally, 146 stocks hit their upper circuit limits, while 58 touched their lower circuits.

Auto manufacturers dominated the gainers’ list, with Eicher Motors leading the charge, surging 6.95 per cent. Bajaj Finserv followed closely with a 6.87 per cent increase, while Maruti Suzuki gained 4.95 per cent. Bajaj Finance and Mahindra & Mahindra also showed strong performance, rising 4.71 per cent and 4.38 per cent respectively.

Among sectoral indices, both Nifty Bank and Nifty Financial Services showed positive momentum, rising 0.50 per cent and 1.05 per cent respectively. The Nifty Next 50 gained 0.48 per cent, while the Nifty Midcap Select index added 0.29 per cent.

On the downside, Britannia Industries led the losses with a 0.97 per cent decline, followed by Sun Pharmaceuticals dropping 0.62 per cent. Adani Ports & SEZ, Bharat Electronics Limited, and Bharat Petroleum Corporation Ltd saw moderate declines of 0.24 per cent, 0.22 per cent, and 0.19 per cent, respectively.

The market built upon its morning momentum, which was initially supported by strong December GST collections and auto sales figures. However, the significant afternoon surge came despite persistent concerns about economic slowdown and potential FII selling pressure. The Nifty pushed past the crucial resistance level of 23,870, which was a key technical barrier earlier in the day.

The broader market sentiment remained positive, although traders continued to maintain caution ahead of the upcoming Union Budget, with several hours still remaining in the trading session.