Sensex, Nifty rise for second session but recovery may face disruption; here's why 

Sensex and Nifty rose for the second straight session on Thursday on positive global cues following  US President Donald Trump’s softened tariff stance on automakers from Canada & Mexico and weakening of the dollar index. A correction in crude oil prices due to a slowdown in demand and further economic stimulus from China, ignited optimism in the energy and metal sector stocks. 

Sensex closed 610 pts higher at 74,340 and Nifty ended 207 pts higher at 22,544 in the current session.

Stocks such as Asian Paints, NTPC, Reliance Industries, Tata Steel, Bajaj Finserv, HUL, Sun Pharma, Adani Ports, Axis Bank, TCS, Titan, Bajaj Finance and HCL Technologies were the top gainers on Sensex, rising up to 4.70%. Of 30 Sensex stocks, 25 ended in the green. Investor wealth climbed by Rs 4.53 lakh crore to Rs 397.57 lakh crore today compared with a valuation of Rs 393.04 lakh crore recorded in the previous session. 

Prashanth Tapse, Senior VP (Research), Mehta Equities is not fully convinced about the strength of the recovery. 

"The recovery is because of the incessant fall markets witnessed over the past few weeks and some of the stocks from several sectors have become attractive as their business fundamentals remain strong. However, the recovery could face disruptions as Trump's tariff statements will continue to make investors nervous and trigger selling going ahead,” said Tapse. 

BSE midcap index rose 257 pts to 40,009. BSE small cap stock index too climbed 727 pts to 45,265 level. 

Amid the market recovery today, Sensex is still down 4.86% and Nifty has lost 4.65% in 2025. As many as 56 stocks hit their 52-week highs today. On the other hand, 93 shares fell to their 52-week lows on BSE.

Out of 4,103 stocks traded, 3,006 stocks ended in the green on BSE. Around 990 stocks closed in the red while 107 stocks remained unchanged.

Around 3 stocks hit their lower circuits even as the stock market saw a strong up move today. On the other hand, 18 shares hit their upper circuit limits amid bullish sentiment on BSE.

Rupak De, Senior Technical Analyst at LKP Securities said, "The Nifty continues to rise, filling the recent gap on the daily chart. The RSI is recovering from a historical low and is currently in a bullish crossover. In the short term, the sentiment appears to favour the bulls. On the higher end, the index may move towards 23,750–23,800. The sentiment is likely to remain strong unless the Nifty falls below 22,300."

Ajit Mishra – SVP, Research, Religare Broking said, "The recent cool-off in crude oil and the dollar, along with the potential negotiations on US tariffs, has improved global sentiment and fueled this rebound. We expect Nifty to face resistance around the 22,700 level (20 DEMA), while the 22,250-22,400 zone will act as support in case of any dip. Our stance remains unchanged—focus on stock selection while maintaining disciplined position sizing."

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities looks bullish on the market outlook. 

"The initial hurdle of 22500 levels (opening downside gap of 28th Feb) has been surpassed and Nifty closed above it. This is positive indication. In the downtrend of the last 15-16 sessions the market was not able to break above the initial hurdles, instead broken important supports at the lows. Hence, this market action signal increasing strength of upside momentum in the market. The next upside resistance to be watched around 22750-22800. Immediate support is placed at 22250 levels," said Shetti. 

Rajesh Bhosale, Technical Analyst, Angel One advises to adopt a 'buy-on-dips' strategy in the current scenario. 

"While near-term momentum appears favorable, Nifty faces multiple resistance levels ahead. Traders should approach these levels one step at a time. Immediate resistance lies at the bearish gap on the weekly chart near 22,700, which also aligns with the 20-day EMA. Beyond that, the 22800 zone, which previously acted as a strong support, could now potentially serve as a resistance level. Given this setup, a 'buy-on-dips' strategy remains prudent. Immediate support is placed at 22,350, followed by today’s low near 22250. For the week's final session, a close above the previous week’s high of 22,700 would be ideal to build momentum for the next leg of the rally in the coming week," said Bhosale. 

Previous session 

The 50-stock Nifty snapped its longest ever losing streak of ten sessions on Tuesday. Sensex rose 740 pts to 73,730 and Nifty gained 254 pts to 22,337.