Sensex closed at 81,207.17, up 223.86 points, and Nifty ended at 24,894.25, supported by buying in PSU banks, private banks, and consumer durables.
Mumbai: Domestic equity indices ended Friday’s session higher, supported by buying in PSU banking, consumer durables, and private bank stocks.
The Sensex closed at 81,207.17, up 223.86 points or 0.28%. The 30-share index had opened lower at 80,684.14, down from Thursday’s close of 80,983.31, but rebounded on buying in banking and metal shares, touching an intraday high of 81,251.99.
The Nifty ended at 24,894.25, gaining 57.95 points or 0.23%. The index extended its recovery for the second consecutive session, rising above the key 50-day moving average at 24,830 and forming a bullish daily candle. Analysts said the index showed signs of stabilisation after last week’s sharp decline.
“Looking ahead, a gradual move towards 25,200 seems probable, and a decisive breakout beyond this level could open the path for an extended rally towards 25,500,” analysts added.
Among Sensex stocks, Tata Steel, PowerGrid, Kotak Bank, Axis Bank, L&T, BEL, Titan, Asian Paints, NTPC, and SBI were top gainers, while Tech Mahindra, Maruti, Ultratech Cement, Bajaj FinServ, Sun Pharma, ICICI Bank, and Eternal settled lower.
Most sectoral indices ended higher, led by Nifty FMCG, up 65 points (0.12%), Nifty IT, up 44 points (0.13%), Nifty Bank, up 241 points (0.44%), and Nifty Financial Services, up 44 points (0.17%).
Broader markets also rallied, with mid- and small-cap stocks seeing strong gains. Nifty Midcap 100 rose 473 points (0.83%), Nifty Small Cap 100 jumped 122 points (0.69%), and Nifty 100 gained 66 points (0.26%).
The Indian rupee stabilised within a narrow range after hitting historic lows earlier in the week.
“The underlying mood for the rupee remains down due to sustained capital outflow from foreign investors. Nevertheless, a rebound in local share markets and moderation in crude oil prices to lend some stability,” said Dilip Parmar of HDFC Securities.
”For the near-term outlook, the spot USD-INR exhibits an ascending trend line support near 88.40, while facing overhead resistance at 89.10,” he added.
IANS
Subscribe to our Newsletter
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.
