Indian equity markets ended the week on a positive note, with key indices registering sharp gains on Friday amid firm global cues and robust domestic macroeconomic indicators.
The BSE Sensex surged 769.09 points, or 0.95 per cent, to close at 81,721.08. The index touched an intraday high of 81,905.17 and a low of 80,897.00 during the session. The NSE Nifty also saw notable gains, climbing 243.45 points, or 0.99 per cent, to settle at 24,853.15.
Market analysts attributed the uptrend to buying in IT, FMCG, banking and financial stocks, as well as renewed optimism over India’s fiscal outlook.
“The index has moved higher after finding support at the 21-day exponential moving average (EMA). Broadly, the Nifty appears to be consolidating within the 24,700 to 25,000 range,” said Rupak De, Senior Technical Analyst at LKP Securities. He added that the short-term trend remains positive and momentum could pick up further if the index crosses the 25,000 mark.
The broader markets also mirrored the upbeat sentiment. The Nifty Midcap100 rose by 0.64 per cent, while the Nifty Smallcap100 gained 0.80 per cent—indicating strength across the board.
On the Sensex, 29 of the 30 constituents ended in the green. Sun Pharma was the sole laggard, falling 2.14 per cent after the company reported a dip in net profit for the fourth quarter.
Among the top gainers were shares of Eternal, Power Grid, ITC, Bajaj Finserv, and Nestle India, which advanced between 1.83 per cent and 3.6 per cent.
Sector-wise, Nifty FMCG and Nifty Private Bank led the gains, rising 1.63 per cent and 1.08 per cent, respectively. Other sectors including IT, financial services, metal, PSU bank, oil & gas, and realty also closed in positive territory with gains of up to 0.95 per cent.
On the other hand, Nifty Pharma and Nifty Healthcare were the only two indices that ended in the red, with marginal declines of 0.41 per cent and 0.01 per cent, respectively.
Experts said investor sentiment was supported by optimism over ongoing US-India trade negotiations and expectations of a record-high dividend payout by the Reserve Bank of India, which could aid fiscal consolidation efforts.
“Investor attention is revolving around US-India trade talks and the strength of domestic economic indicators,” said Vinod Nair, Head of Research at Geojit Financial Services.
(IANS)