Mumbai— Indian equity markets closed higher on Friday, capping the week with modest gains after a volatile trading session driven by mixed global cues and geopolitical concerns.
The Sensex rose 259.75 points, or 0.32%, to finish at 80,501.99 after hitting an intraday high of 81,177.93. The Nifty edged up 12.50 points, or 0.05%, to settle at 24,346.70, swinging between 24,238.50 and 24,589.15 during the session.
Adani Ports led the Nifty gainers with a 4% jump, followed by IndusInd Bank, Bajaj Finance, SBI, Maruti Suzuki, and Tata Steel. Meanwhile, JSW Steel, Eicher Motors, Bajaj Auto, Hero MotoCorp, HDFC Life, and Nestle were among the top losers.
Rupak De of LKP Securities noted that support for the Nifty is seen at 24,250, with a potential correction toward 24,000 if that level is breached. A breakout above 24,550 could trigger a stronger rally, he added.
Sector performance was mixed. Media, energy, IT, and oil and gas stocks posted gains between 0.3% and 0.7%, while power, metal, telecom, pharma, real estate, and consumer durables fell by 0.5% to 2%.
The BSE Midcap index declined by 0.4%, and the Smallcap index closed flat, reflecting subdued broader market activity.
According to Sundar Kewat of Ashika Institutional Equity, easing fears of a US-China trade conflict and sustained foreign institutional investment supported early market gains. However, escalating tensions between India and Pakistan capped further upside and kept market sentiment cautious.
The session remained volatile, with sharp price swings on both sides of the trade.
In currency markets, the Indian rupee weakened slightly to close at 84.56 against the U.S. dollar, down from 84.49 in the previous session. (Source: IANS)
