Among sectors, all the major sectoral indices traded in positive territory, but the IT index gained the most, rallying 6.48 percent.
Shrikant Chouhan,
Head, Equity Research
Kotak Securities
Mumbai, May 12, 2025: Today, the benchmark indices witnessed a stellar rally. The Nifty ends 917 points higher, while the Sensex was up by 2975 points. Among sectors, all the major sectoral indices traded in positive territory, but the IT index gained the most, rallying 6.48 percent. Technically, after a gap-up opening, the market successfully cleared the 24,590/81150 resistance mark, and post-breakout, positive momentum intensified. A long bullish candle on daily charts and breakout continuation formations on daily and intraday charts indicate a further uptrend from the current levels.
We believe that the 24,590/81150 resistance zone has now become a strong support zone for short-term traders. For day traders, buying on intraday dips and selling on rallies would be the ideal strategy. On the higher side, 25,200–25,300/83000-83300 would be the key resistance areas, while below 24,590/81150 traders may prefer to exit their long positions.
Satish Chandra Aluri, Lemonn Markets Desk, adds: Benchmark indices posted sharp gains on Monday, marking their best day in nearly a year, following a series of positive global developments. This included a morning announcement of a trade deal between the US and China, which triggered a global market rally and lifted Indian markets to record gains.
Markets opened with a big gap-up as expected, supported by improved global sentiment. Market breadth was very strong, with nearly 90% of Nifty 500 stocks trading in the green. Broader Mid and Small caps also posted strong gains, in line with major sectors.
After the sharp opening, markets received a further boost from the US-China trade truce, as global indices rallied on hopes of recession being averted. US-exposed IT emerged as the top gainer among sectors, posting its best intraday gain since April 2020, followed by Realty and Metals. On the flip side, Pharma lagged behind after US President Trump pledged to slash prescription drug prices by 30%–80% to align with international price benchmarks, dragging down global pharma stocks.
On the technical front, Nifty 50 closed strong above the 24,900 level, near its highs—indicating continued momentum. Going forward, 25,000 is expected to act as immediate resistance, followed by 25,200, while 24,800 may serve as immediate support on the downside.
