Indian equity markets saw a second consecutive day of gains on Thursday, driven by strong performances in pharmaceuticals, healthcare, metal, and banking sectors. The Sensex ended at 75,398.72, up by 1.06%, while the Nifty closed at 23,689.60, marking a 1.18% increase. Sector-wise, Nifty Pharma was the top performer, rising by 2.74%, followed by Nifty Healthcare and Nifty Metal indices.
During the trading session, banking stocks also showed positive momentum, with the Nifty PSU Bank index climbing by 1.37% and the Nifty Private Bank index by 1.16%. However, the Nifty IT sector faced selling pressure, leading to a 2% decline, with major IT stocks like HCL Tech and Infosys witnessing losses.
Market experts noted that despite challenges like rupee weakness and high crude oil prices, domestic markets managed to close higher. The positive sentiment was supported by expectations of policy interventions to manage currency fluctuations and global optimism post the Trump–Xi meeting, hinting at enhanced economic cooperation.
Investor interest in pharmaceuticals and healthcare was attributed to defensive positioning, while the metal sector benefited from strong global prices and improving demand from China. Conversely, IT stocks remained subdued throughout the session, reflecting ongoing pressure in the sector.
The rupee exhibited high volatility, initially weakening but later recovering on reports of potential tax reductions for foreign investors to boost capital inflows and stabilize the currency.
