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Below the Quote on Post-market comment by Mandar Bhojane, Research Analyst, Choice Broking

The bulls made a strong comeback on Dalal Street after two consecutive days of losses. Benchmark indices ended the session with significant gains, as the Sensex surged by 1,005.84 points (1.27%), closing at 80,218.37, while the Nifty 50 rallied 289.15 points (1.20%), finishing at 24,328.50. The rally was primarily driven by heavyweight stocks such as Reliance Industries, HDFC Bank, and L&T, with sectoral support coming from metal, PSU banks, defence, and real estate stocks. However, the IT sector lagged due to weak global cues and earnings concerns.

The Nifty reclaimed the 24,300 level and reached an intraday high of 24,354 before encountering some profit booking near the peak. The market breadth remained positive, with mid and small-cap stocks showing strong participation. The India VIX eased slightly, indicating a reduction in near-term volatility. The Nifty is now testing the upper boundary of its consolidation zone, and a decisive breakout above 24,400 could signal further bullish momentum, potentially pushing the index towards 24,600–24,800 in the near term.

Key support for the Nifty lies at 24,100–24,000, and any pullback into this zone could attract buyers. A sustained close above 24,400 is crucial for confirming the continuation of the bullish trend. On the downside, immediate support around 23,900 should hold to maintain the positive momentum. The overall market sentiment remains optimistic, and traders are advised to manage risk near resistance levels while watching for a clear breakout.

Defence stocks such as HAL (+5%) and BEL (+3%) gained attention due to rising geopolitical tensions. PSU banks, realty, metal, pharma, and oil & gas stocks rose 1–3%, supported by positive earnings and macroeconomic triggers. On the other hand, the IT index ended in the red due to cautious outlooks from global tech companies. The midcap and small-cap indices outperformed, reflecting strong interest from both retail and institutional investors. With the Nifty holding firm above 24,300, all eyes will be on corporate earnings, US Fed commentary, and FII flows for further cues.

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