Markets strengthened through mid-session on Friday, with the breaching the key 24,000 psychological level and the approaching 77,400, driven by broad-based buying in financials, auto and consumption stocks, even as IT shares extended their decline on earnings concerns.
As of 12.30 pm, the BSE Sensex was trading at 77,380.42, up 748.77 points or 0.98 per cent from its previous close of 76,631.65, having opened at 77,121.01. The Nifty 50 stood at 24,004.70, gaining 229.60 points or 0.97 per cent from its previous close of 23,775.10, after opening at 23,880.55. Notably, 179 stocks hit 52-week highs on BSE against just 17 at 52-week lows, with 247 stocks in the upper circuit and 90 in the lower circuit. Of 4,293 BSE stocks traded, 3,294 advanced against 820 declines.
ICICI Bank rose 2.89 per cent to ₹1,318.30, emerging as one of the session’s most active counters with over 77.53 lakh shares changing hands, valued at over ₹1,01,937 lakh. Mahindra & Mahindra gained 2.73 per cent to ₹3,253.20, while Bajaj Auto surged 3.07 per cent to ₹9,809.50 on volumes of over 4.74 lakh shares. Asian Paints led Nifty gainers with a 4.05 per cent rise to ₹2,361.50, while Eicher Motors climbed 3.36 per cent to ₹7,387.50.
Ponmudi R, CEO of Enrich Money, noted that “…the Indian rupee has shown relative resilience, holding in the 92.2–93.0 range,” adding that “…support from the Reserve Bank of India, along with the unwinding of speculative positions, has helped reduce volatility.”
The technology pack remained the session’s sharpest drag. Sun Pharma was the steepest Nifty loser, down 4.82 per cent to ₹1,634.30 on heavy volumes of 48.62 lakh shares. Infosys fell 3.55 per cent to ₹1,284.30, with over 1.08 crore shares traded worth approximately ₹1,40,252 lakh. TCS dropped 3.20 per cent to ₹2,506.20 on volumes exceeding 67.34 lakh shares, valued at over ₹1,69,940 lakh. HCL Technologies declined 2.53 per cent to ₹1,427.80 and Tech Mahindra slipped 2.23 per cent to ₹1,429.
On the commodities front, COMEX Gold was holding in the $4,750–$4,800 range, while MCX Gold traded above ₹1,52,500 with cautious buying. MCX Crude corrected sharply from highs above ₹10,500 to trade above ₹9,100 following the US–Iran ceasefire, while US crude hovered near $97.8 within a broad $93–$103 band. MCX Silver held above ₹2,42,000 with the next resistance seen at ₹2,45,000–₹2,47,000.
Despite the mid-session gains, analysts cautioned that the rally lacks strong conviction. Ponmudi R described trading as “…measured, with controlled moves rather than sustained trends,” adding that “…near-term direction is being shaped by developments in geopolitics, movements in crude oil prices and foreign investor activity.”
The Nifty’s breach of 24,000 is technically significant, but analysts say a sustained close above this level remains the critical test. Bank Nifty, showing relatively stronger momentum, was approaching the decisive 55,800–56,000 resistance band, a breakout above which could open the path to 56,500–57,000. Markets remain open until 3:30 pm IST, with the final close likely to be determined by afternoon global cues and any fresh geopolitical headlines.