The Indian equity markets continued to maintain the upbeat mood, as both the benchmark indices were inching towards fresh 52-week highs. The Sensex closed at 85,632.68, advancing by 446.21 points or 0.52%, while the Nifty50 added 139.50 points or 0.54% to 26,192.15.

According to analysts at Ashika Institutional Equities, Indian markets started Thursday’s session on a positive footing, taking cues from strong Asian market sentiment, while reflecting sustained investor confidence and broad-based buying interest. “Sentiment remained upbeat as optimism surrounding a potential US–India trade agreement continued to bolster market confidence,” the note said.

Gains were led by sectors such as oil and gas, infrastructure, financial services, energy, and auto, which provided strong support to the index. However, pockets of weakness emerged in media, PSU banks, and realty, which saw mild profit-taking.

In the Nifty50 list, Eicher Motors emerged as the top gainer, rising 3.20%, followed by the Bajaj twins—Bajaj Finance and Bajaj Finserv, each rising 2.30% respectively. Reliance Industries also saw an uptick, rising by 2%.

On the other hand, dragging the index downward was Asian Paints, which declined by 1.16%, HCL Technologies by 1.09%, and Titan, down by 0.84%.

In terms of sectors, gains were led by sectors such as oil and gas, infrastructure, financial services, energy, and auto, which provided strong support to the index. However, pockets of weakness emerged in media, PSU banks, and realty, which saw mild profit-taking.

According to Ponmudi R, CEO, Enrich Money, Bank Nifty also delivered a strong session, breaking above the upper boundary of its long-term ascending channel and hitting fresh record highs near 59,413. “The breakout is supported by leadership in private banks and a strong advance-decline ratio across index components,” he said.

As per him, broader participation remains strong as mid-caps outperformed, buoyed by earnings upgrades, healthy inflows, and seasonal demand from the wedding cycle, which continues to lift consumption-driven sectors. Stable macro conditions, firm domestic flows, and renewed foreign interest are collectively sustaining the upward fundamental momentum in Indian equities. 

Looking at market breadth, in the Nifty50 list, 34 companies advanced, and 16 declined. On the other hand, the Sensex list closed on a tie—with 15 companies advancing and the other half declining.