Mumbai– Indian stock markets ended the week on a positive note Friday, with key indices posting modest gains despite a volatile trading session marked by geopolitical concerns and global market cues.
The benchmark Sensex climbed 259.75 points, or 0.32%, to close at 80,501.99 after reaching an intraday high of 81,177.93. The Nifty settled slightly higher by 12.50 points, or 0.05%, at 24,346.70, fluctuating between a low of 24,238.50 and a high of 24,589.15 during the day.
Adani Ports led the pack of gainers on the Nifty, rallying 4%, followed by strong performances from IndusInd Bank, Bajaj Finance, SBI, Maruti Suzuki, and Tata Steel. Meanwhile, JSW Steel, Eicher Motors, Bajaj Auto, Hero MotoCorp, HDFC Life, and Nestle were among the session’s top losers.
Market analysts noted key support for the Nifty at 24,250, with a potential correction toward 24,000 if that level is breached. “The index may remain range-bound between 24,000 and 24,550. A decisive breakout above 24,550 could trigger a stronger rally,” said Rupak De, Senior Technical Analyst at LKP Securities.
Sector performance was mixed. Media, energy, IT, and oil and gas stocks posted gains of 0.3% to 0.7%, while sectors such as power, metal, telecom, pharma, realty, and consumer durables saw declines ranging from 0.5% to 2%.
The broader market showed limited momentum, with the BSE Midcap index slipping 0.4% and the Smallcap index ending flat.
Sundar Kewat of Ashika Institutional Equity attributed the initial gains to easing concerns over a potential U.S.-China trade conflict, with China signaling willingness to engage in dialogue. Continued foreign institutional investments also buoyed sentiment, he said.
However, escalating tensions between India and Pakistan curbed further upside and contributed to sharp swings throughout the session. “It was a volatile day with pronounced price movements on both ends,” Kewat added.
In the currency market, the Indian rupee edged lower to close at 84.56 against the U.S. dollar, compared to 84.49 on Wednesday. (Source: IANS)
