The week wrapped up on a high note for Dalal Street as Indian benchmarks staged a spirited comeback on Friday. Overcoming a heavy drubbing the previous day and initial morning weakness, the market closed in green, buoyed primarily by gains in public sector banks and metals.
BSE Sensex added 316.57 points (0.38%) to close at 82,814.71, while NSE Nifty rose 116.90 points (0.46%) to 25,571.25. Notably, every Nifty sectoral index except IT finished the day positively.
Global cues were mixed, with Asian stocks subdued due to escalating US-Iran friction. Yet, domestic buyers stepped in aggressively. Broader markets showed strength too – Nifty Midcap 100 up 0.48%, though Smallcap 100 slipped 0.11%.
PSU Banks stole the show with a 1.68% jump in their Nifty index, closely trailed by Metals at 1.25%. Autos gained 0.41%, FMCG 0.56%, and Banking 0.71%. IT lagged, down 0.98%, as investors rotated out of tech amid valuation concerns.
In the Sensex pack, gainers outnumbered losers 22-8. NTPC, L&T, HUL, Tata Steel, Power Grid, and BEL surged as much as 2.7%. Laggards were Tech Mahindra, Infosys, Eternal, HCL Tech, and Bharti Airtel.
Market participants view this rebound as a healthy correction after recent volatility, with focus now shifting to upcoming earnings and geopolitical developments. The session highlights the market’s underlying strength and sector rotation dynamics.