Markets End Higher After Volatile Session, Banking Stocks Lead Rally

Mumbai: Indian equity markets closed in the green on Friday, although they lost some momentum in the second half of the session after a strong start in the morning.

The BSE Sensex rose 231.99 points to close at 75,415.35, while the NSE Nifty 50 gained 64.60 points to settle at 23,719.30, according to the latest market data. The Nifty managed to hold above the important 23,700 level, which traders considered a positive sign for the market.

Banking stocks were the biggest support for the market throughout the day. The Nifty Bank index jumped 616 points to end at 54,055. Most banking shares traded with strong gains, helping the broader market stay positive.

ICICI Bank, HDFC Bank Lead Gains

Among the top contributors to the rally were ICICI Bank, Axis Bank, HDFC Bank and Reliance Industries. Continuous buying in these heavyweight stocks helped the indices recover from intraday weakness.

The Indian rupee also showed a strong recovery. The currency appreciated by more than 40 paise to close near 95.68 against the US dollar, compared to Thursday’s close of 96.20. Earlier this week, the rupee had touched a record low of 96.96 per dollar. The recent recovery improved investor confidence and supported market sentiment.

Pharma, Healthcare And IT Stocks Under Pressure

Despite the overall gains, several stocks ended sharply lower after weak quarterly earnings.

Sun Pharmaceutical Industries fell nearly 3Rs after investors reacted negatively to weaker-than-expected Q4 results and concerns over its US business margins.

Max Healthcare Institute dropped around 6Rs , becoming the top loser on the Nifty index after disappointing quarterly numbers.

ITC slipped nearly 2Rs amid worries that cigarette volume growth may slow in coming quarters. Maruti Suzuki India also ended lower after announcing a price hike of up to Rs 30,000 on select vehicles from June 2026.

The IT sector remained weak for the third straight session, with L&T Technology Services among the worst performers.

Midcaps Shine Despite Mixed Breadth

Among gainers, Rashtriya Chemicals and Fertilizers climbed about 4Rs after reporting strong Q4 earnings, while GAIL (India) rose nearly 3Rs despite weak quarterly profit as investors focused on future growth outlook.

Midcap stocks such as Astral, Dixon Technologies, Tata Communications and JSW Infrastructure also witnessed strong buying interest.

However, market breadth remained mixed, with the NSE advance-decline ratio staying near 1:1, indicating that gains were limited to select sectors and stocks.