The Indian stock markets ended on a strong note on Friday, with benchmark indices touching a nine-month high. Investor sentiment remained upbeat as tensions in West Asia eased and reports of a potential ‘great’ India-US trade deal lifted market confidence, encouraging buying across sectors.
The Sensex climbed 303.03 points, or 0.36 per cent, to close at 84,058.90. It traded within a range of 83,645.41 to 84,089.35 during the day.
This marked the fourth consecutive session of gains for the benchmark index, indicating a steady upward trend. The Nifty also saw similar momentum, rising 88.80 points, or 0.35 per cent, to end the day at 25,637.80. The index moved between 25,523 and 25,654 during intra-day trade.
“The Nifty continued to move higher as investor confidence remained strong. With no major resistance seen before the 25,750–25,800 range, the index may continue its upward trajectory,” said Rupak De of LKP Securities.
He added that a buy-on-dips strategy appears more appropriate at current levels, following the sharp rise in recent sessions. On the downside, support is placed at 25,500; a break below this level could lead to a phase of consolidation.
The Sensex had last touched the 84,000 mark in October 2024, while the Nifty had previously reached 25,639 on October 3 last year.
Broader markets also mirrored the bullish sentiment. The Nifty Midcap100 index rose 0.27 per cent, while the Nifty Smallcap100 jumped 0.91 per cent—indicating that investor interest remained strong beyond large-cap stocks.
Barring the Nifty Consumer Durables, Realty, IT, and FMCG indices, all other sectoral indices on the NSE closed in the green.
The Nifty Oil & Gas index outperformed both its sectoral peers and the benchmark indices, ending 1.19 per cent higher.
Volatility also eased, with the India VIX—the market’s fear gauge—slipping 1.60 per cent to settle at 12.39, suggesting growing investor confidence in near-term market stability.
-IANS