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After a sustained downtrend, the domestic stock market staged a recovery, closing with gains in the last trading session of the week. On Friday, the BSE Sensex surged 226.59 points to settle at 78,699.07, while the NSE Nifty 50 gained 63.2 points, ending at 23,813.40.
Top performers on the Nifty included Dr. Reddy's Labs, M&M, IndusInd Bank, Eicher Motors, and Bajaj Finance, while Hindalco Industries, SBI, ONGC, Coal India, and Bharat Electronics experienced declines.
Sectoral Highlights
Strength in Auto, Pharma, and Media:
The BSE Smallcap index rose 0.3%, while the Midcap index remained flat. Auto, Pharma, and Media sectors displayed resilience, with the Nifty Pharma index climbing 1.30% and the Nifty Auto index gaining 1%.
Weakness in Realty, PSU Bank, and Metal:
Realty, Oil & Gas, and Metal indices fell by 1% each. The PSU Bank index declined 0.89%, while the Nifty Bank and Private Bank indices recorded moderate gains of 0.27% and 0.49%, respectively.
The Sensex opened at 78,607.62, higher than its previous close of 78,472.48, reaching an intraday high of 79,043.15 and a low of 78,598.55.
Global Market Update
Asian markets closed largely in the green on Friday, buoyed by gains in Japan following a weaker yen.
Nikkei 225: Up 1.8% at 40,281.16.
Shanghai Composite: Up 0.1% at 3,400.14.
Hang Seng: Up 0.1% at 20,116.93.
Markets in Shanghai, Mumbai, Malaysia, Taipei, Singapore, Sydney, and Bangkok also posted gains. In contrast, Manila ended lower, and London was down. Early European trading saw Frankfurt and Paris in positive territory.
In Seoul, the market declined by 1.02%, driven by the South Korean won’s depreciation to a 16-year low of 1,480.20 per USD.
The global market sentiment showcased mixed trends, with strength in Asian markets and selective gains in Europe reflecting varied economic cues.
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