Did Sensex and Nifty Close Higher for the Second Day? Pharma and Banking Stocks Lead the Rally

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Did Sensex and Nifty Close Higher for the Second Day? Pharma and Banking Stocks Lead the Rally

Synopsis

In a remarkable turn of events, Indian equity indices have surged for the second successive session, propelled by robust buying in the pharma and banking sectors. This article delves into market movements, sector performances, and what lies ahead for investors amid rising optimism.

Key Takeaways

  • Sensex closed at 82,501, up 329 points.
  • Nifty settled at 25,285, gaining 104 points.
  • Strong buying in pharma and banking stocks led the rally.
  • Key support for Nifty is at 25,150.
  • Optimism over trade deals bolsters market sentiment.

Mumbai, Oct 10 (NationPress) The Indian equity benchmark indices have recorded gains for the second consecutive session on Friday, driven by robust buying in pharma and banking stocks.

Additionally, increases in select auto and energy shares also contributed to a positive market sentiment.

The Sensex initially opened approximately 100 points lower at 82,075 due to declines in IT stocks. However, it quickly rebounded, reaching an intra-day peak of 82,654, which represented an increase of 579 points.

Ultimately, the index concluded 329 points, or 0.4 percent higher, at 82,501. The Nifty also hit a high of 25,331 during the day, closing 104 points, or 0.4 percent higher, at 25,285.

"The Nifty showed strength on Friday by breaking out of its recent consolidation range. The trend remains positive as it sustains above key moving averages,” analysts noted.

“The current setup appears favorable for further upward movement in the short term. Any dips could present lucrative opportunities for long trades,” they added.

“On the upside, the Nifty may target 25,500–25,550, while support is established at 25,150. A drop below 25,150 could slightly weaken the trend,” experts remarked.

Among the top gainers in the Sensex, SBI climbed over 2 percent, while Maruti Suzuki, Axis Bank, Adani Ports, and Power Grid saw increases of more than 1 percent each.

On the downside, Tata Steel decreased by 1.5 percent, and TCS fell about 1 percent, a day after releasing its Q2 results.

In the broader market, the BSE Midcap index rose by 0.4 percent, while the Smallcap index improved by 0.6 percent.

Sector-wise, the BSE Healthcare and Bankex indices each saw gains of up to 1 percent, while the auto and capital goods indices added roughly 0.5 percent.

Shares of textile companies surged by as much as 17 percent during the day, following reports that India and the UK may double their bilateral trade by 2030.

Analysts indicated that renewed optimism regarding a potential India–US trade agreement ahead of the November deadline, coupled with easing geopolitical tensions in the Middle East, bolstered investor confidence.

Domestically, improving macro indicators—backed by the RBI’s proactive measures to enhance credit flow and strong consumption trends driven by GST reforms during the early festive season—have further strengthened investor sentiment.

Point of View

I believe the recent gains in the Indian equity markets reflect a healthy investor sentiment driven by strategic buying in key sectors. With ongoing trade discussions and positive macroeconomic indicators, there is a growing sense of optimism among investors. However, vigilance is essential as the markets can be volatile.
NationPress
10/10/2025

Frequently Asked Questions

What caused the recent rise in Sensex and Nifty?
The recent rise in Sensex and Nifty can be attributed to strong buying in pharma and banking stocks, along with gains in select auto and energy shares.
How did the Nifty perform on Friday?
On Friday, the Nifty reached a high of 25,331 and closed 104 points higher at 25,285, reflecting a 0.4 percent increase.
What are the key support levels for Nifty?
The key support level for Nifty is at 25,150. A drop below this level could indicate a slight weakening of the trend.
Which sectors performed well recently?
Recently, the healthcare and banking sectors performed well, both gaining up to 1 percent. The auto and capital goods sectors also saw positive movement.
What should investors consider moving forward?
Investors should consider the favorable setup for further gains and look for opportunities to enter long trades, especially during any dips.
Nation Press