Broad-based rally pushes Nifty to 26,328; Can Sensex hit 90K by June 2026?

Indian equity benchmarks closed higher on Friday, with the Nifty50 ending at a fresh all-time high, supported by optimism around strong third-quarter corporate earnings and broad-based sectoral participation.

The NSE Nifty50 rose 0.70 per cent, or 182 points, to close at a record 26,328.55, surpassing its previous closing peak of 26,216.05 recorded on September 26, 2024. The index also touched an intraday high of 26,340 during the session. Meanwhile, the BSE Sensex gained 573.41 points, or 0.67 per cent, to settle at 85,762.01, finishing just shy of its record close of 85,836.12.

Market participation remained strong, with turnover in the NSE’s cash segment jumping 28 per cent compared to the previous session, reflecting heightened investor activity.

Sectoral performance was largely positive, with all sectors except FMCG ending in the green. Energy, realty, and metal stocks led the rally. Among top gainers on the NSE were Coal India (up 7.15 per cent), NTPC (4.56 per cent), Hindalco Industries (3.53 per cent), Trent (2.39 per cent), and State Bank of India (2.12 per cent).

“Markets extended gains and reclaimed record-high levels, marking a strong start to the New Year. Positive sector-specific developments, especially improving auto sales and demand across cyclical sectors, supported sentiment,” said Ajit Mishra, Senior Vice President – Research at Religare Broking.

From a technical perspective, analysts highlighted a decisive breakout. “The Nifty has broken out of a symmetrical triangle pattern on the daily chart, supported by broad-based short covering,” said Nilesh Jain, Head – Technical and Derivatives Research at Centrum Broking.

Nandish Shah, Deputy Vice President at HDFC Securities, noted that the index has convincingly crossed key resistance levels at 26,236 and 26,325. “With the Nifty entering uncharted territory, the near-term upside opens toward 26,500 and beyond, while immediate support has shifted higher to around 26,100,” he said.

Broader markets also showed strength, with the Nifty Midcap100 rising 1.01 per cent to an all-time high of 61,365.90 and the Nifty Smallcap100 gaining 0.72 per cent to 17,832.05. Market breadth remained firmly positive for the third consecutive session, with an advance-decline ratio of 1.93 on the BSE.

The Bank Nifty added 0.74 per cent to close at a record 60,150.95.

“We expect the positive momentum to continue into next week, supported by upcoming pre-quarterly business updates from several companies,” said Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services.

Can the Sensex touch 90,000 by June 2026?

Yes, it’s achievable under favorable conditions, but it will depend on earnings delivery and global stability rather than momentum alone.

What supports a move to 90K

Strong earnings cycle: If FY26 earnings grow in the 14–16% range, valuations can sustain higher levels.

Broad-based participation: Midcaps, smallcaps, banks, energy, metals, and cyclicals are all contributing—this is healthier than a narrow rally.

Liquidity tailwinds: Domestic SIP flows and selective FII inflows remain supportive.

Technical structure: With Nifty in uncharted territory, upside extensions toward 26,500–27,000 are plausible, which historically aligns with Sensex ~90K.

What could delay or cap the rally

Valuation stretch: Large-cap multiples are already above long-term averages.

Global risks: US rate cuts getting delayed, geopolitical shocks, or crude oil spikes.

Earnings disappointment: Any downgrade to FY26 guidance could trigger consolidation.

Base-case view

High probability: Sensex 88,000–90,000 by June 2026

Stronger bull case: 92,000+ if earnings and liquidity surprise positively

Bear case: Time correction with range-bound movement (82,000–87,000)

Bottom line:

👉 90,000 by June 2026 is within reach, but it will be an earnings-led climb—not a straight-line rally.