The Nifty finished the session at 22,936, marking a 1.05% gain after an early pause that saw the benchmark dip near 22,700. This rebound pushed the index above the critical 22,800 support, a level that had held since late September.
Sector performance reinforced the rally: Nifty Realty rose 1.8%, Nifty FMCG climbed 1.5%, and Nifty PSU Bank added 1.2%. In contrast, Nifty Auto slid 0.9% and Nifty Cement fell 0.7%, underscoring a selective upside.
Foreign institutional investors added liquidity, with inflows reported by the National Stock Exchange at ₹3.2 billion during the day—a contribution that helped sustain momentum across the market.
Analysts point to macro‑drivers: the U.S. Federal Reserve held rates steady, while diplomatic chatter around the U.S.–Iran standoff lifted commodity sentiment, easing crude prices. The RBI’s recent upward revision of the Q2 FY27 GDP estimate to 7.5% further buoyed growth expectations.
According to HDFC Securities analyst Nagaraj Shetti, the index’s short‑term trend remains positive, with 23,200 as the next resistance. Angel One’s Hitesh Rathi flags 22,800 as immediate support, while SBI Securities’ Sudeep Shah identifies 23,080–23,100 as a critical hurdle.
LKP Securities’ Vatsal Bhuva notes the Nifty’s 20‑day moving average has been reclaimed, suggesting a strengthening price structure. He projects the index could target the 23,175 swing high if it stays above 22,800.
The consensus is that the Nifty could sustain a rally toward 23,250 if the 23,200 resistance is breached. Traders will watch the 22,800 support closely for potential short‑term reversals.