Mumbai– Indian equity markets ended higher on Friday, marking their third consecutive day of gains as both the Sensex and Nifty touched fresh 52-week highs ahead of the Diwali festive season. Strong buying in financial, auto, and FMCG stocks powered the rally, even as broader market sentiment remained mixed.
At the close, the Sensex climbed 484.53 points, or 0.58 percent, to 83,952.19, while the Nifty gained 124.55 points, or 0.49 percent, to finish at 25,709.85. Analysts said the benchmarks appear poised for further upside in the near term. “Technically, Nifty looks strong for additional gains. A ‘buy on dips’ strategy could work well in the current setup,” market experts noted, adding that support lies at 25,500 while resistance is expected near 25,850–26,000.
Among sectoral indices, Nifty FMCG led the advance with a 1.37 percent gain, followed by Auto, Banking, Financial Services, Pharma, Realty, and Consumer Durables, all of which closed in positive territory. In contrast, IT and Media stocks declined.
On the Sensex, top performers included Asian Paints, Mahindra & Mahindra, Bharti Airtel, ITC, Hindustan Unilever, and ICICI Bank. The Nifty MidCap 100 fell 0.57 percent, while the Nifty SmallCap 100 edged down 0.05 percent, reflecting a shift of investor focus toward large-cap stocks.
Despite mixed global cues, domestic markets were buoyed by steady institutional inflows and broad-based buying. Both the Nifty and Bank Nifty broke key psychological resistance levels during the week, indicating bullish momentum. Analysts said the rally is characteristic of an early bull market phase, where large-cap companies typically lead gains.
Meanwhile, gold extended its winning streak, rising by Rs 1,700, or 1.3 percent, to Rs 1,31,500 per 10 grams. The metal’s rise was supported by safe-haven demand amid the ongoing U.S. government shutdown and a weaker dollar index, which slipped below 99.
“With momentum staying firmly bullish, gold is likely to remain elevated as long as risk sentiment stays weak. Support is placed near Rs 1,28,000, while resistance is seen around Rs 1,33,000,” analysts said.
The combination of festive optimism, institutional buying, and global uncertainty has set a positive tone for Indian markets as they head into the Diwali week. (Source: IANS)
