Indian benchmark indices extended their gaining streak for the second straight session on Thursday, with the NSE Nifty touching a new all-time high in early trade, while the Sensex inched close to its record-high levels.
In the opening trade, the Nifty50 rose as much as 90 points to scale a new peak of 26,295.55, breaching its previous high of 26,277 touched in September 2024.

In a similar trend, the 30-share Sensex climbed 330 points to 85,940 and is now just 38 points shy of its record level of 85,978.

In the previous session, the BSE Sensex surged 1,022.50 points to close at 85,609.51, while the NSE Nifty50 rallied 320.50 points to settle at 26,205.30.

The broader market also saw positive trading, with the Nifty MidCap and SmallCap indices edging higher by 0.16% and 0.07%, respectively.

On the sectoral front, the Nifty Metal and Auto were top performers, rising up to 0.5%.  

On the BSE Sensex pack, Bajaj Finance emerged as the top gainer, rising 1.45%, followed by L&T and Bajaj Finserv, which gained 0.87% and 0.83%, respectively. Among others, ICICI Bank, Hindustan Unilever, M&M, Axis Bank, Asian Paints, HDFC Bank, Titan, Infosys and ITC also traded with mild gains.

On the flip side, Eternal (Zomato) was the biggest laggard, slipping 1.21% in early deals. UltraTech Cement, Kotak Mahindra Bank, Maruti Suzuki India, Bharti Airtel, Power Grid, TMPV, Adani Ports, TCS and SBI also saw marginal selling pressure.

According to a market analyst, expectation of a rate cut by the Fed and a possible Russia-Ukraine peace accord have improved sentiments for equity markets globally.

“The technical construct of the market with high FII short position also is favourable for rally. Importantly, the rally has fundamental support from potential earnings growth expected in Q3 and Q4 of FY 26. The consumption boom witnessed in October will translate into impressive earnings growth,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

Technically, the Nifty50 extended its recent gains, reinforcing the prevailing bullish undertone after a phase of consolidation. The index now finds strong immediate support in the 26,050–26,100 region, which has consistently acted as a demand zone. On the upside, resistance has gradually shifted toward the 26,300–26,350 band, where selling pressure is expected to emerge and potentially limit near-term upside, said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking.

“Given the prevailing volatility and global uncertainty, traders are advised to adopt a selective buy-on-dips approach, manage leverage prudently, and use tight trailing stop-losses with staggered profit-booking. Fresh long positions may be considered only on a sustained move above 26,300, supported by diligent monitoring of global cues and key technical levels,” Shinde added.

Foreign Institutional Investors (FIIs) continued their buying streak, purchasing equities worth ₹4,778 crore on November 26, while Domestic Institutional Investors (DIIs) added ₹6,247 crore during the same session.

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