Sensex Jumps 650 points, Nifty ends above 25,680 on banking, FMCG buying

Indian equity markets staged a strong rebound on February 16, snapping their recent corrective trend as optimism over potential US Federal Reserve rate cuts lifted global sentiment. Softer-than-expected US inflation data eased bond yields, boosting risk appetite worldwide and triggering broad-based buying in Indian stocks, led by banking and FMCG heavyweights.

Market Performance

Markets opened firm and built momentum through the session, with buying intensifying in the second half of trade. At the close:

Sensex surged 650 points to end at 83,277

Nifty 50 climbed 211 points to settle at 25,682

Banking and FMCG stocks led the rally, while selective value buying was seen in heavyweight counters.

Sectoral Snapshot

Most sectoral indices ended in the green.

Top gainers: Realty, Banking, FMCG, Oil & Gas

Underperformers: Auto, Media

Broader markets also participated, with midcap stocks rising around 0.5%, while smallcaps posted marginal gains.

Technical Outlook: Nifty

Nifty rebounded sharply from oversold levels and closed near the day’s high, forming a bullish engulfing pattern on the daily chart—signalling a possible short-term trend reversal.

Immediate support: 25,550

Next support: 25,380

Resistance: 25,750

Technical Outlook: Bank Nifty

Bank Nifty mirrored the broader market’s strength, with buying emerging at lower levels. The index is likely to consolidate with a positive bias in the near term.

Support: 60,400, followed by 60,200

Resistance: 61,500, then the all-time high zone near 61,750

Expectations of interest rate cuts by the Federal Reserve, supported by easing US inflation, revived investor confidence across global markets. In India, strong buying in banking and consumer stocks drove the sharp rally. Markets may now move in a narrow range until fresh global or domestic triggers emerge.