Is Sensex Up 350 Points with Nifty Surpassing 24,850? IT Stocks Drive the Surge!
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Synopsis
On September 9, the Indian stock market opened positively, with the Sensex gaining 350 points and Nifty surpassing 24,850, led by significant IT stocks. As analysts predict continued volatility, investors are keenly observing key resistance levels.
Key Takeaways
- Sensex increased by 355 points or 0.44 percent.
- Nifty surged by 99 points or 0.40 percent.
- Nifty IT index led with a 1.7 percent rise.
- Major contributors included Infosys and Wipro.
- Investors are advised to watch key resistance levels.
Mumbai, Sep 9 (NationPress) The Indian benchmark indices began the day on a positive note this Tuesday, with the Nifty IT index spearheading the rally, showcasing a notable increase of 1.7 percent during early trading.
By 9:23 am, the Sensex had climbed by 355 points or 0.44 percent, reaching 81,142, while the Nifty saw an uplift of 99 points or 0.40 percent, standing at 24,873.
The broader indices remained relatively stable, with the Nifty Midcap 100 inching up by 0.05 percent and the Nifty Small Cap 100 dipping slightly by 0.01 percent.
The rise in the Nifty IT was bolstered by significant gains from Infosys, which increased by 3.35 percent after announcing plans to consider a share buyback alongside its results next month. Wipro also experienced an uptick, rising by 2.36 percent.
Other major contributors to the Nifty's growth included Tech Mahindra, TCS, and Bajaj Finserv. Conversely, notable decliners included Titan Company, Shriram Finance, ICICI Bank, Tata Consumer, and Tata Motors.
Sector-wise, apart from the leading Nifty IT, Nifty Pharma (up 0.47 percent) and Nifty Auto (up 0.21 percent) also showed positive momentum, while several other indices recorded slight losses.
Market analysts observed that the Nifty index formed a small red candle with a long upper shadow on the daily chart, indicating a phase of consolidation and volatility.
"While there is visible buying interest at lower levels, the 24,900–25,000 range poses a significant challenge. Support is identified at 24,620, and as long as the Nifty operates below 25,000, we may witness continued consolidation or minor weakness," they stated.
"Upside momentum diminished upon testing 24,870, which had been highlighted as a crucial pivot yesterday. Although the downward shift was sudden and steep, oscillators are still supportive of potential upward movements. We're looking for a close beyond 24,730-870 for clearer direction," commented Anand James, Chief Market Strategist at Geojit Investments Limited.
In the previous night, the US markets concluded positively, with the Dow Jones Industrial Average edging up by 0.25 percent, the Nasdaq gaining 0.45 percent, and the S&P 500 increasing by 0.21 percent.
US investors are on the lookout for two pivotal inflation reports that could influence decisions made by Federal Reserve policymakers in their upcoming meeting.
The Asian markets exhibited mixed results during the morning session. China's Shanghai Index fell by 0.35 percent, and Shenzhen dropped by 1 percent. However, Japan's Nikkei rose by 0.2 percent, while Hong Kong's Hang Seng Index increased by 0.82 percent. South Korea's Kospi edged up by 1.06 percent.
On Friday, foreign investors (FIIs/FPIs) were net sellers, with outflows of Rs 2,170 crore from Indian equities, whereas domestic institutional investors (DIIs) net purchased shares worth Rs 3,014 crore.
Point of View
It is evident that while the Indian stock indices are experiencing a surge, the underlying volatility and resistance levels indicate a cautious approach is advisable. Investors must remain vigilant, as external factors such as global market trends and inflation reports could impact the trajectory of the indices.
NationPress
09/09/2025
Frequently Asked Questions
What is causing the rise in the Indian stock market?
The rise is primarily driven by strong performance in the IT sector, particularly from companies like Infosys and Wipro.
What should investors look out for?
Investors should keep an eye on key resistance levels, particularly around 24,900–25,000, and upcoming inflation reports from the US.
How did global markets perform recently?
Recently, US markets saw positive movement, with the Dow Jones, Nasdaq, and S&P 500 all closing higher.
What factors could affect future market trends?
Factors such as inflation reports, global economic conditions, and domestic investor sentiment will play a crucial role in future trends.
Which sectors are currently performing well?
The IT sector is currently leading the gainers, followed by pharmaceuticals and auto sectors.
