Nifty crosses 25,000 mark before closing lower as markets extend fourth straight rally

Market breadth remained strongly positive with 2,631 stocks advancing against 1,437 declines on the BSE
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Markets on Tuesday extended their winning streak for the fourth consecutive session, with benchmark indices closing in positive territory driven by strong sectoral performance and GST reform optimism. The BSE Sensex closed 370.64 points or 0.46 per cent higher at 81,644.39, while the NSE Nifty 50 gained 103.70 points or 0.42 per cent to end at 24,980.65, just shy of the crucial 25,000 mark after touching an intraday high of 25,012.

Tata Motors emerged as the top gainer, surging 3.62 per cent to ₹700.50, followed by Adani Ports which climbed 3.22 per cent to ₹1,370.00. Reliance Industries gained 2.84 per cent to ₹1,421.00 after Jio’s tariff restructuring, Hero MotoCorp advanced 2.66 per cent to ₹5,116.80, and Bajaj Auto rose 2.12 per cent to ₹8,771.00.

On the downside, Dr Reddy’s Laboratories fell 1.40 per cent to ₹1,245.00, Cipla declined 1.15 per cent to ₹1,547.20, Hindalco dropped 1.03 per cent to ₹706.80, Bajaj Finserv fell 0.98 per cent to ₹1,973.90, and Mahindra & Mahindra shed 0.77 per cent to ₹3,357.00.

“This sustained rally reflects growing investor confidence, supported by strong performances across key sectors and broader market participation,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.

Market breadth remained strongly positive with 2,631 stocks advancing against 1,437 declines on the BSE. All sectoral indices except pharma ended in positive territory, with auto stocks leading gains on GST rationalization hopes.

Broader markets outperformed with the Nifty Midcap 100 surging 0.97 per cent to 57,664.65. The Nifty Bank rose 0.23 per cent to 55,865.15.

“Today’s rally was propelled by strong buying in heavyweights such as Reliance Industries, Tata Motors, and Adani Ports. Optimism stemmed from anticipated GST reforms and a recent sovereign credit rating upgrade,” said Vaibhav Vidwani, Research Analyst at Bonanza.

Auto stocks gained momentum as China lifted export restrictions on rare earth magnets. “Stocks like Tata Motors, Bajaj Auto saw renewed strength after reports of easing supply restrictions,” said Hariprasad K, Founder at Livelong Wealth.

The rupee surged 40 paise to 86.91 against the dollar after S&P’s India outlook upgrade. “The S&P upgrade reflects confidence in India’s economic development, with FIIs showing reduced selling pressure,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

Gold remained range-bound between ₹99,000–₹99,400 on MCX, with Comex hovering below $3,350.

“The index might remain strong; the strength increases above 25,000. On the lower end, support is placed at 24,800,” said Rupak De, Senior Technical Analyst at LKP Securities.

Market participants will closely track the US Fed’s Jackson Hole symposium later this week for global risk sentiment cues.