Mumbai: Indian stock markets continued their upward move on Friday after a short pause the previous day. Both benchmark indices-the Sensex and the Nifty-ended the session with gains of more than 1 per cent.
The Sensex rose by 918.6 points, or 1.20 per cent, to close at 77,550.25. Meanwhile, the Nifty gained 275.5 points, or 1.16 per cent, to settle at 24,050.6.
Strong Support From Key Stocks
The rally in the market was mainly driven by buying in select large companies. Stocks like Asian Paints, Eicher Motors, Bajaj Auto, and Shriram Finance were among the top gainers on the Nifty.
These companies helped push the indices higher and kept investor confidence strong during the session.
Broader Markets Outperform
The broader market showed even stronger performance compared to the main indices. This indicates that investors were active across different types of stocks, not just large companies.
The Nifty MidCap index rose 1.48 per cent, while the Nifty SmallCap index gained 1.67 per cent by the end of the day.
Mixed Sector Performance
Sector-wise, the market showed mixed trends. The Nifty IT index was the top performer, as technology stocks saw strong buying interest.
However, sectors like auto, banking, and financial services did not perform as well and lagged behind the broader market.
Global Cues And Cautious Sentiment
Investors remained careful due to ongoing tensions in West Asia and concerns about the closure of the Strait of Hormuz. These global developments can impact oil prices and overall market sentiment.
Despite these worries, steady domestic buying helped support the markets and kept the overall mood positive.
Strong Start To The Day
Markets had opened on a strong note earlier in the day. The Sensex started at 77,121, up 489 points, while the Nifty opened at 23,880, gaining 100 points.
During the session, the Sensex touched a high of 77,622.50, and the Nifty reached 24,074.05, showing strong momentum throughout the day.
