Indian equity markets ended Friday’s session on a higher note as the geopolitical tension between Iran and Israel is expected to ease. The markets have snapped a three-day losing streak.
The Nifty 50 closed the session 319 points or 1.3% higher at 25,112, the Sensex rallied 1,046 points or 1.3% to end at 82,408.
For the week, Nifty closed 1.4% higher, while the Sensex settled 1.5% higher.
In line with the overall bullish market sentiments, the Nifty Bank rose 675 points or 1.22% to end at 56,252.
The BSE Midcap pulled back almost 539 points or 1.20% to 45,480.26. On the other hand, the BSE Smallcap remained steady, surging 285 points or 0.55% to 52,378.52.
“Nifty moved up sharply after three days of consolidation, resuming its short-term rally. Moreover, the index has reclaimed the 21-day EMA, which could provide further momentum for an upward move. Support is now placed at 24,850, and the index remains a ‘buy on dips’ as long as it holds above this level. On the higher side, it may continue advancing towards 25,350 and beyond,” said Rupak De, Senior Technical Analyst at LKP Securities.
“All key sectors participated in the rally, with realty, financials, and metals emerging as top gainers. The broader indices also saw relief, posting gains in the range of 1% to 1.4%,” said Ajit Mishra, Senior Vice President of Research at Religare Broking.
“The outlook remains positive, and a decisive move above 25,200 on the Nifty would signal the end of the ongoing 5-week consolidation phase and open the path toward the 25,600–25,800 zone. In the absence of any major domestic events, global markets will continue to guide sentiment. We maintain our positive yet cautious stance and advise focusing on stock selection, particularly in line with sectoral trends,” added Mishra.
5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Friday’s session on a positive note. During the session, out of 2,954 trading stocks, 1,912 advanced, while 963 declined, and 79 remained unchanged. Today, 28 stocks hit a fresh 52-week high. Meanwhile, 38 stocks touched a new 52-week low.
Top gainers
Trent was the top gainer in the Nifty 50 in Friday’s session, closing 3.69% higher. It was followed by Jio Financial Services, M&M, Bharti Airtel, and Nestle India.
Top losers
Meanwhile, the shares of Hero MotoCorp were the biggest losers in today’s trade. It was followed by Dr Reddy’s Lab, Maruti Suzuki, ONGC, Axis Bank, and many others.
Best and worst performing business groups
The Essel Group’s market capitalisation has risen the most in Friday’s trade, gaining 3.7%. In the list of Essel Group stocks, Zee Entertainment, Dish TV, and Zee Media Corp gained up to 4%. Essel Group stocks were followed by Max India Group, whose market cap increased by almost 3.4%, Bharti Group’s market cap increased by 3.4%, and others. However, the Manipal Group’s market cap declined the most, falling almost 2.34%.
Top sectors in Friday’s trade
The telecommunication sector’s stocks surged the most in terms of market capitalisation by 3.2% in Friday’s trade, Bharti Hexacom’s stocks topped the telcom sector stocks. The electronics sector stood behind the telecom sector, climbing 2.88%, and it was followed by automobile stocks that rose 2.6%.