Benchmark indices closed higher on Thursday after a volatile session marked by record highs and subsequent profit booking. The S&P BSE Sensex ended 110.87 points up at 85,720.38, while the NSE Nifty50 gained 10.25 points to close at 26,215.55. Both indices briefly scaled new all-time highs earlier in the day before selling pressure emerged. Market sentiment steadied toward the close, supported by select heavyweights even as several large counters declined.
Analysts noted that retail investors remained the backbone of the market throughout the year, although the overall performance fell short of expectations, prompting a gradual derisking toward year-end. Investors are now focused on key triggers, including India’s GDP data, the US-India deal, and the upcoming RBI policy meeting, all of which could influence market direction in the near term.
Top index contributors included Bajaj Finance, ICICI Bank, Bajaj Finserv, Hindustan Unilever, and HCLTech, all of which posted gains and helped cushion the benchmarks. On the other side, Maruti Suzuki, Eternal, UltraTech Cement, SBI, and Tata Steel were the biggest drags. Broader market performance was mixed, with the Nifty Midcap100 ending slightly higher while the Nifty Smallcap100 slipped more than half a percent. Market volatility remained subdued as the India VIX declined further.
Sectoral movement reflected selective buying rather than broad-based strength. Financial services, FMCG, IT, media, and private banks closed higher, while autos, metals, PSU banks, real estate, consumer durables, oil, and gas, and healthcare ended lower. The divergence reinforced the view that the market may be entering a short consolidation phase after its record run.
Despite mild correction signals on the intraday chart, technical analysts maintain that the underlying market structure remains bullish. Nifty continues to trade well above the psychological support of 26,200, followed by a stronger support base at 26,100. The next breakout trigger lies at 26,300, and a firm close above that level could pave the way toward fresh lifetime highs in the 26,350–26,450 range. As long as the index stays above the 26,000 support zone and selling pressure remains contained, the broader uptrend is expected to continue.
