Indian stock markets closed higher on Friday, supported by a strong rally in information technology (IT) stocks. Better global sentiment, helped by a softer-than-expected US jobs report and lower crude oil prices, lifted investor confidence and pushed benchmark indices into positive territory.
The BSE Sensex gained 261.79 points, or 0.34%, to close at 77,763.91. The NSE Nifty50 also ended higher, rising 95.15 points, or 0.39%, to settle at 24,270.85.
IT companies were the biggest support for the market during the session. HCLTech emerged as the top gainer on the Sensex, jumping 5.80%. Tech Mahindra also ended 1.81% higher.
Among other major gainers, Bajaj Finserv rose 2.13%, Bharti Airtel gained 1.81%, while Sun Pharma advanced 1.77%.
Among sectoral indices, Nifty Realty was the best performer of the day, climbing 2.19%. IT, FMCG, metal and pharma stocks also ended with healthy gains.
Commenting on the day’s trade, Gaurav Garg, Lemonn Markets Desk, said sectoral performance remained mixed.
“Sectoral trends remained mixed during the session, with Realty emerging as the top-performing sector, followed by Healthcare, Pharma, IT, Cement and Midcap Healthcare, reflecting strong buying interest across defensive and technology stocks. Metal, REITs, Chemicals and Financial Services also ended in positive territory with modest gains.”
He added that PSU Bank stocks faced the biggest selling pressure, while media, auto, construction, banking, FMCG and mid & small financial services indices also ended lower. According to him, the Private Bank index remained largely flat, indicating selective buying within the financial sector.
Not all sectors joined the rally. Axis Bank was the biggest loser among Sensex stocks, falling 1.56%. State Bank of India declined 1.13%, Mahindra & Mahindra slipped 1.11%, while Larsen & Toubro lost 0.83%.
In the broader market, the picture was mixed. The Nifty Midcap 100 edged down 0.19%, while the Nifty Smallcap 100 managed to end 0.04% higher.
Meanwhile, India VIX, often called the market’s fear gauge, fell 3.98%, suggesting investors remained relatively calm despite some volatility during the session.
According to Garg, the market remained range-bound during the first half of the session as investors waited for fresh triggers. Some profit booking was seen later in the day after the recent rally, but buying at lower levels helped the indices recover and finish with gains.
“The Indian stock market witnessed a mixed trading session today, with the Nifty remaining range-bound and consolidating during the first half as investors awaited fresh market triggers. In the latter half of the session, mild profit booking emerged following the recent rally, leading to some intraday volatility. Despite the selling pressure, buying at lower levels helped the index recover and end the day on a positive note.”
He added that lower crude oil prices, a stable rupee and continued institutional buying kept market sentiment positive, while improving global risk appetite further boosted investor confidence.
Looking ahead, Garg believes investors will closely track the upcoming June-quarter earnings season, which is expected to set the tone for the market in the coming weeks.
“Going forward, market participants will closely monitor the upcoming June-quarter earnings season, as corporate results and management commentary are expected to drive stock-specific movements and shape the market’s near-term direction.”
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