Sensex Climbs 374 Points, Nifty Ends Higher as Lower Oil Prices Boost Market Sentiment

On Thursday, India’s key equity benchmarks closed higher, buoyed by softer crude oil prices and buying interest in PSU banks and chemicals.

The Sensex added 374 points, up 0.48%, finishing at 78,954.76, whereas the Nifty climbed 11.35 points, a 0.05% rise, to end at 24,636.00.

Analysts noted that, from a technical standpoint, the Nifty finds immediate support at the 24,600 mark, with the 24,500 zone serving as a stronger demand area on the downside.

“From a derivatives viewpoint, the 24,600 strike still holds the highest put open interest (OI), cementing its role as a key immediate support, while the 24,700 strike shows the greatest call OI, positioning it as the immediate resistance,” said an analyst.

Leading the Nifty gains were Reliance Industries, State Bank of India and Bharat Electronics, which lent strong support to the market’s advance.

The broader market showed mixed behaviour. The Nifty MidCap index slipped 0.44%, reflecting profit‑taking in mid‑cap stocks, whereas the Nifty SmallCap index advanced 0.48%.

At the sector level, PSU banks and chemicals outshone the broader market, with the Nifty PSU Bank and Nifty Chemical indices posting robust gains as investors built positions in these areas.

Conversely, realty, media and automobile stocks faced selling pressure, leaving the Nifty Realty, Nifty Media and Nifty Auto indices among the poorest performers for the session.

Experts added that market participants kept an eye on global developments, especially crude oil price movements, which continued to lend support to sentiment.

“Lower oil prices are generally seen as beneficial for India’s economy because they cut import costs and alleviate inflationary pressures,” noted an analyst.

“In the long run, CAS is expected to bolster the integrity of closing prices, boost benchmark reliability, curb end‑of‑day price distortions, and align India’s market infrastructure with global best practices. Investors should therefore concentrate on underlying business fundamentals rather than inferring from short‑term benchmark discrepancies during this transition,” remarked a market expert.