The Indian stock market experienced a volatile trading session on Friday, with benchmark indices managing to hold steady despite fluctuations. Gains in metal stocks provided some support, while small-cap stocks extended their rally, continuing their recent upward momentum. This followed two consecutive bullish sessions, during which the market had closed in the green.
The Sensex ended marginally lower at 74,332.58, slipping by just 7.51 points or 0.01 percent. Throughout the session, the 30-share index fluctuated between an intra-day high of 74,586.43 and a low of 74,038.03. Meanwhile, the Nifty managed to close slightly higher at 22,552.50, gaining 7.80 points or 0.03 percent. The index touched a high of 22,633.80 but also fell to an intra-day low of 22,464.75.
The markets opened on a weaker note but recovered as buying interest emerged in select blue-chip stocks, including Tata Motors. Oil and gas stocks also contributed to the rebound, supporting market sentiment. However, the broader market outperformed, with the small-cap index climbing 1.1 percent, marking its fourth consecutive session of gains.
According to Krishna Appala from Capitalmind Research, the strength in the market was driven by a broad-based recovery. “Nifty 50 has stabilised near fair valuations, while mid and small-cap stocks continued to witness buying after recent corrections. Sustaining this rally will depend on earnings recovery and broader market sentiment,” he said.
Among the top gainers in the Nifty pack were Tata Motors, Bharat Electronics, Nestle India, and Bajaj Auto. However, some IT and banking stocks faced mild selling pressure, including IndusInd Bank, Shriram Finance, NTPC, BPCL, and Infosys.
The Nifty Smallcap 100 index continued its upward trend, closing 0.67 percent higher, while the Nifty Midcap 100 index slipped by 0.32 percent. Sectoral performance on the NSE was mixed, with Nifty Auto, PSU Bank, Metal, Media, and Oil & Gas indices posting gains of up to 1.83 percent, while other sectors remained subdued.
Over the past week, the Nifty has gained 2.1 percent, while the Nifty Midcap 100 and Nifty Smallcap 250 surged by 2.9 percent and 5.8 percent, respectively. The market now awaits further cues from corporate earnings and broader economic developments to sustain its momentum.\
-IANS
