MUMBAI, Maharashtra — Indian equity markets ended Friday’s session on a firm note, supported by steady buying in heavyweight stocks, a stronger rupee and positive sentiment following the stock market debut of ICICI Prudential Asset Management Company.
The benchmark Sensex opened with a positive gap of around 275 points and continued to build on gains through the session. The index touched an intraday high of 85,067.50 before closing 447.55 points higher, or 0.5 percent up, at 84,929.
The Nifty also posted solid gains, climbing to a high of 25,993 during the day before settling at 25,966, up 151 points at the close.
“Given the recent rebound and a breakout above the falling trend line, a Santa rally in the coming week looks possible, which may propel the Nifty towards the 26,200 mark. On the downside, key support is positioned around 25,700,” market experts said.
Among Sensex constituents, Bharat Electronics, Power Grid Corporation and Tata Motors Passenger Vehicles emerged as the top gainers, rising more than 2 percent each. Asian Paints, Larsen & Toubro, Bajaj Finance, Bajaj Finserv and Infosys also ended higher, gaining around 1 percent each.
On the downside, HCL Technologies slipped about 1 percent. Kotak Mahindra Bank, ICICI Bank and TCS were the only other Sensex stocks to close in negative territory.
The broader market outperformed the benchmark indices, with the BSE MidCap and SmallCap indices rising about 1.3 percent each. Market breadth remained positive, with nearly two stocks advancing for every one that declined on the BSE.
The Indian rupee also ended the day stronger, closing at 89.25 against the U.S. dollar after a late-session surge, further supporting overall market sentiment.
“While sentiment remains constructive, near-term volatility may persist amid uncertainty over trade deal timelines and upcoming macroeconomic data releases,” market participants said. (Source: IANS)
