Indian equity benchmarks ended Friday’s trading session with modest gains, capping off the week on a positive note despite intermittent volatility.
The BSE Sensex rose by 259.75 points, or 0.32%, to close at 80,501.99, after hitting an intra-day high of 81,177.93. The NSE Nifty ended 12.50 points, or 0.05%, higher at 24,346.70, having oscillated between 24,238.50 and 24,589.15 during the day.
Among the top performers on the Nifty were Adani Ports, which surged 4%, along with IndusInd Bank, Bajaj Finance, SBI, Maruti Suzuki, and Tata Steel. On the losing side, JSW Steel, Eicher Motors, Bajaj Auto, Hero MotoCorp, HDFC Life, and Nestle posted notable declines.
Market experts indicated that support is currently placed at 24,250, and a fall below this level could lead to a correction towards 24,000.
“The index may remain range-bound between 24,000 and 24,550. A decisive breakout above 24,550 could trigger a fresh rally,” said Rupak De, Senior Technical Analyst at LKP Securities.
Sector-wise, the performance was mixed. Media, energy, IT, and oil & gas stocks posted gains ranging from 0.3% to 0.7%. Meanwhile, power, metals, telecom, pharma, realty, and consumer durables declined between 0.5% and 2%.
The broader market showed subdued activity, with the BSE Midcap index falling by 0.4% and the Smallcap index ending flat.
According to Sundar Kewat, Head of Institutional Equity at Ashika Group, early gains were driven by easing concerns over a potential trade conflict between the US and China.
“China’s openness to dialogue boosted confidence in global markets. Additionally, sustained foreign institutional inflows supported domestic equities,” Kewat noted.
However, geopolitical tensions between India and Pakistan kept investor sentiment cautious, capping further upside.
Kewat added that the session witnessed heightened volatility, with sharp price swings seen in both directions.
In the currency market, the Indian rupee closed marginally weaker at 84.56 per US dollar, compared to the previous close of 84.49.
-IANS
