Why Sensex and Nifty soared today?

Indian equities extended their winning streak for the second consecutive session, with the Sensex climbing 1,436 points to close at 79,944, and the Nifty surging by 446 points to 24,189, marking a nearly 2% gain for both indices.

The surge was driven by strong performances in the IT and auto sectors. The Nifty reclaimed crucial technical levels, surpassing both its 20-day and 50-day moving averages. In fact, the Nifty Auto index led the rally, soaring almost 4%, fueled by positive news on auto sales, including record highs for Eicher Motors and a major single-day surge for Maruti.

The broader market also participated in the bullish momentum, with the Midcap Index rising by 657 points to 58,108, and Nifty Bank gaining 545 points to close at 51,605.5. Strong Q3 updates from Punjab National Bank and CSB Bank added further optimism, while tech giant Infosys was a major contributor to the Nifty's rally, with shares jumping 4% on the day.

Across sectoral indices, all ended in the green except Nifty Media, confirming broad-based participation in today’s market rally.