Indian equity markets closed on a strong note, with major indices posting significant gains by the end of Friday’s trading session. Positive investor sentiment, driven by sectoral outperformance and selective stock strength, pushed the Nifty past the 24,750 mark.
The Nifty 50 index climbed 219.60 points (0.89%) to settle at 24,768.30, while the Sensex gained 843.16 points (1.04%), ending the day at 82,133.12. Market breadth, however, showed mixed signals as 1,741 stocks advanced, 2,086 declined, and 114 remained unchanged.
Key Sectoral Trends
The market saw strength in key sectors such as auto, banking, FMCG, and telecom, which registered gains between 0.5% and 2%. However, pressure persisted in realty, metals, and media, with each losing 0.5%. The BSE Midcap and Smallcap indices ended flat, reflecting cautious sentiment in the broader markets.
Stock Movements
Top Gainers: Bharti Airtel, Kotak Mahindra Bank, ITC, UltraTech Cement, and HUL led the rally, offering substantial support to the indices.
Top Losers: Stocks such as Shriram Finance, IndusInd Bank, Tata Steel, Hindalco, and JSW Steel weighed on market performance.
Notably, IndusInd Bank hit a 52-week low of Rs 965.55, impacted by weaker Q2 results and a sharp decline in profitability, which raised concerns among investors.
Midcap Performance
Dixon Technologies continued its upward trajectory, rallying 2% to a record high of Rs 18,034. The stock has surged over 200% since February 2024, driven by the booming Electronics Manufacturing Services (EMS) sector and strong partnerships with tech giants like Google and HP. The upcoming Chennai plant is expected to further fuel the company’s growth ambitions.
Rupee Movement
The Indian rupee closed stronger at 84.7875 per U.S. dollar, recovering from its all-time low of 84.88 earlier in the week. Intraday recovery was supported by suspected central bank intervention and increased inflows.
IPO and Corporate Highlights
Toss The Coin IPO allotment updates dominated investor interest as the issue saw 1,025 times oversubscription, with retail investors leading at 1,550 times. Investors await the final allotment updates, expected later in the day.
Mobikwik IPO closed with a subscription rate of 119.38 times, reflecting robust investor confidence.
Brookfield India Real Estate Trust raised Rs 3,500 crore through a QIP issue, marking the first REIT investments in India by International Finance Corporation and LIC.
Global Commodities and Outlook
Gold prices dipped by 0.71%, trading at $2,661 per ounce, as profit-booking followed Thursday’s five-week highs. Analysts remain optimistic about gold’s prospects, with expectations of further gains in 2025.
The dollar index strengthened to 107, marking its best weekly performance in a month.
While major indices showed strong gains, caution persisted in broader markets, particularly in mid and small-cap stocks. Investors remain focused on corporate earnings, upcoming global economic data, and Federal Reserve announcements, which could shape near-term market trends.
Disclaimer – This article is for informational purposes only and does not constitute financial or investment advice. MarketScope Daily is not a SEBI-registered advisory. Readers should conduct their own research or consult a licensed advisor before making investment decisions. MarketScope Daily is not responsible for any losses arising from the use of this content. Investments are subject to market risks.
