Nifty ends at 3-week high on trade optimism; rupee hits fresh record low

The benchmark indexes ended at a three-week high on Thursday, extending their longest winning streak in five months, as optimism regarding progress in India’s trade talks with the United States boosted risk sentiment in the equity markets.The NSE Nifty 50 index closed 32 points higher at 25,006, holding above the 25,000 mark, while the S&P BSE Sensex rose 124 points to 81,549. The Nifty Bank index added 134 points to finish at 54,670, and the broader Nifty Midcap 100 index climbed 44 points to 58,044. Market breadth was neutral with the advance-decline ratio at 1:1.

According to Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, the “Market sentiment remains tied to updates on the US–India trade deal, which could trigger sharper moves.”

Aurobindo Pharma surged 6% after reports said US private equity firm GTCR was closing in on a deal to acquire Zentiva, lifting sentiment in the pharmaceutical space. Jupiter Wagons gained 4% after bagging a ₹113 crore axle order, while GMR Airports added 1% following ₹555 crore worth of block deals.Mid- and small-cap stocks saw sharp moves, with Sigachi Industries, Piccadily Agro and Greenpanel Industries rising 11–20% on strong trading volumes.

Among laggards, Infosys fell 1% ahead of its board meeting to consider a share buyback proposal. Tega Industries dropped 3% after announcing a ₹13,200 crore acquisition of Molycop in a joint venture with Apollo Funds. Adani Power slipped 1% after 3.7 crore shares changed hands in block deals, while Ambuja Cements ended in the red but recovered from intraday lows after ₹1,550 crore worth of block deals.

Capital market-linked stocks weakened on reports that SEBI may soon release a consultation paper on phasing out weekly derivatives expiries. GAIL gained on hopes of a pipeline tariff hike approval from the Petroleum and Natural Gas Regulatory Board (PNGRB).

Meanwhile, the rupee depreciated to a record low of 88.44 per US dollar, reflecting broad dollar strength and mixed foreign outflows. According to LKP Securities’ Jateen Trivedi, focus today remains on the upcoming US inflation data which could drive some volatility in the dollar and in turn the rupee.