Mumbai, Oct 9 (NationPress) The domestic equity indices concluded the trading session on a strong note on Thursday, supported by strategic buying in IT, metal, and PSU bank stocks.

Additionally, stocks in the pharmaceutical sector gained considerable traction after the Trump administration indicated that it would refrain from imposing tariffs on imported generic drugs. This led the Nifty Pharma index to surge by 228 points or 1.05 percent.

The Sensex concluded at 82,172.10, reflecting an increase of 398.44 points or 0.49 percent. The 30-share index kicked off the day with a notable gap-up at 81,900.0 compared to the previous day's close of 81,773.66, further gaining momentum to hit an intraday peak of 82,247.73 amid widespread buying.

The Nifty wrapped up at 25,181.80, gaining 135 points or 0.54 percent.

“The market resumed its upward trajectory following a brief pause, with the Nifty index forming a bullish candle on the daily chart. It found support near its 21-day moving average, around the 25,000 mark, but encountered resistance near 25,200 once again,” analysts noted.

“Immediate support has now shifted higher to 25,000, and as long as the index remains above this threshold, a further ascent towards 25,400 during the October series seems plausible,” they added.

Top gainers from the Sensex included Tata Steel, HCL Tech, Ultratech Cement, BEL, Sun Pharma, Eternal, Trent, TCS, Kotak Bank, L&T, Infosys, Hindustan Unilever, and NTPC. Conversely, Axis Bank, Titan, and HDFC Bank closed lower.

The majority of sectoral indices finished positively amid value buying. The Nifty Fin Services rose by 67 points or 0.25 percent, Nifty Bank increased by 173 points or 0.31 percent, Nifty Auto jumped by 64 points or 0.24 percent, Nifty FMCG saw an increase of 217 points or 0.40 percent, and Nifty IT ended the session up by 396 points or 1.12 percent.

The broader market followed suit, with Nifty Smallcap 100 climbing 109 points or 0.61 percent, Nifty Midcap 100 surging 563 points or 0.97 percent, and Nifty 100 rising by 139.80 points or 0.54 percent.

The rupee traded flat at 88.76, demonstrating limited volatility in recent weeks as FII selling subsided and crude prices remained stable.

“However, the currency continues to linger near lower levels, raising concerns about potential further depreciation towards the 90 mark if global sentiment weakens. Attention over the next few days will be on Fed Chair Powell's speech and crucial U.S. data on unemployment and nonfarm payrolls, all of which could cause significant fluctuations in the forex market,” stated Jateen Trivedi of LKP Securities.