MUMBAI– Indian stock markets ended the week on a high note Friday, with benchmark indices surging nearly 1 percent amid optimism over robust domestic macroeconomic indicators and progress in U.S.-India trade talks.
The BSE Sensex jumped 769.09 points, or 0.95 percent, to close at 81,721.08, while the NSE Nifty gained 243.45 points, or 0.99 percent, settling at 24,853.15. During the session, the Sensex touched an intraday high of 81,905.17 and a low of 80,897.00.
“The index has moved higher after finding support at the 21-day exponential moving average,” said Rupak De, Senior Technical Analyst at LKP Securities. “The Nifty appears to be consolidating in the 24,700–25,000 range. The short-term trend remains positive and momentum may strengthen once it crosses the 25,000 mark.”
Strong performances in FMCG, IT, banking, and financial stocks helped markets recover nearly half of their weekly losses. Sentiment was further buoyed by speculation that the Reserve Bank of India (RBI) could announce a record-high dividend, bolstering hopes for fiscal consolidation.
Broad-based buying was evident across the board. The Nifty Midcap100 rose 0.64 percent, while the Nifty Smallcap100 added 0.80 percent, reflecting bullishness beyond large-cap stocks.
Among the Sensex components, only Sun Pharma closed in the red, falling 2.14 percent after reporting a decline in Q4 net profit. In contrast, top gainers included Eternal, Power Grid, ITC, Bajaj Finserv, and Nestle India, which rose between 1.83 percent and 3.6 percent.
Sectorally, Nifty FMCG led the gains with a 1.63 percent rise, followed by Nifty Private Bank, which gained 1.08 percent. Other sectors such as IT, financial services, metal, PSU banks, oil & gas, and real estate also ended in the green, registering gains of up to 0.95 percent.
However, not all sectors participated in the rally. Nifty Pharma declined 0.41 percent, while the Healthcare index dipped slightly by 0.01 percent.
“Investor confidence is being driven by strong macroeconomic fundamentals and renewed optimism around U.S.-India trade negotiations,” said Vinod Nair, Head of Research at Geojit Financial Services.
With momentum building and key resistance levels within reach, analysts believe the market may continue its upward trajectory in the near term. (Source: IANS)
