Mumbai: Indian equity benchmarks ended near the day's high on Friday as buying interest across sectors lifted both frontline and broader market indices. Strong gains in financial, realty and IT stocks, along with positive corporate updates, helped investors remain optimistic throughout the session.
The BSE Sensex rose 827.57 points (1.08 percent) to close at 77,569.39, while the NSE Nifty 50 gained 244.10 points (1.02 percent) to settle at 24,206.90.
The Nifty comfortably ended above the 24,200 level, while the Sensex finished close to the day's peak. Around 25 of the 30 Sensex stocks ended in positive territory.
Financial stocks led the rally
Financial shares were among the biggest contributors to the market's gains. The Nifty Bank index climbed 793 points to close at 58,046, supported by buying in banking and financial services companies.
Indian Bank surged around 10 percent after reporting healthy first-quarter earnings. Although Bank of Maharashtra gave up most of its intraday gains and ended lower from the day's high, overall sentiment in the banking space remained positive.
Midcaps continue record-breaking run
The rally extended well beyond large-cap stocks. The Nifty Midcap index jumped 870 points to 63,037, touching a fresh record high.
Stocks such as Indian Bank, MRPL, Kalyan Jewellers, Paytm and Tanla Platforms attracted strong buying, reflecting investors' confidence in broader market opportunities.
Sectoral gains remained widespread
Most sectoral indices ended in the green, highlighting the strength of the rally. Realty, PSU Bank and IT emerged as the top-performing sectors, while buying was seen across several other industries as well.
Among the biggest gainers on the Nifty were Jio Financial Services, HDFC Life, Adani Enterprises and Reliance Industries. On the other hand, Dr Reddy's Laboratories remained under pressure after the previous session's weakness, while Eternal, Nestle India, Bharti Airtel, Coal India and ITC also closed lower.
Stock-specific triggers supported sentiment
Several company-specific developments further improved market mood. TCS gained around 1 percent after reporting first-quarter results broadly in line with expectations. Ion Exchange rallied over 16 percent after securing a $52.8 million order from Hyundai Engineering.
Anand Rathi Wealth touched a record high after its assets under management crossed Rs 1 lakh crore, while Kalyan Jewellers extended its recent rally.
Market breadth remained healthy, with the NSE advance-decline ratio at nearly 2:1, indicating that buying was spread across a wide range of stocks rather than being limited to a few heavyweight companies.
