Mumbai, Sep 13 || The Indian equities displayed strong bullish momentum this week on hopes of stronger H2 FY26 earnings, driven by GST rationalisation and the benefits of monetary easing.
Benchmark indices Nifty and Sensex ended the week with a gain of around 1.32 per cent and 1.21 per cent, respectively, with the rally driven by auto and IT stocks. Midcap and smallcap stocks outperformed the benchmark indices.
The IT index exhibited its rally, driven by renewed hopes of a Fed rate cut, Infosys’ buyback announcement, and optimism over a revival in technology spending.
The Nifty advanced 373 points forming a robust bullish candle. Analysts said that, on the weekly chart, the index has broken out of a symmetrical triangle pattern with conviction, signalling the potential for further upside.
"The Nifty has shown resilience by holding firmly above the 25,100 mark, closing at 25,114. It continues to trade above its key EMA levels—underscoring the broader bullish undertone," according to Choice equity broking. Immediate resistance levels are placed at 25,160, followed by 25,250 and 25,500 zones. Immediate support is seen at 25,000 and then at 24,900 zones.