Sensex, Nifty end higher as strong rupee lift market sentiment

Indian equity markets wrapped up Friday’s trading session with notable gains, fueled by sustained buying activity in blue-chip stocks.

Investor confidence received additional support from ICICI Prudential AMC’s robust market debut and the strengthening of the Indian rupee against the dollar.

The benchmark Sensex commenced trading with a 275-point upward gap and maintained momentum throughout the session.

After reaching an intraday peak of 85,067.50, the index concluded 447.55 points higher, marking a 0.5% increase to settle at 84,929.

The Nifty mirrored this positive trend, climbing to a daily high of 25,993 before closing at 25,966 with a 151-point advance.

Market analysts observed, “The recent rebound and breach of a key resistance level suggest potential for a year-end rally next week, possibly driving Nifty toward 26,200. Immediate support remains near the 25,700 threshold.”

Leading the Sensex gains, Bharat Electronics, Power Grid Corporation, and Tata Motors Passenger Vehicles surged over 2% each.

Other prominent performers included Asian Paints, Larsen & Toubro, Bajaj Finance, Bajaj Finserv, and Infosys, each gaining approximately 1%.

HCL Technologies bucked the trend, declining about 1%, while Kotak Mahindra Bank, ICICI Bank, and TCS were the only other index constituents to finish lower.

Broader markets outperformed main indices, with the BSE MidCap and SmallCap indices rallying roughly 1.3% each.

Market breadth remained favorable with advancing stocks outnumbering decliners by a 2:1 ratio on the BSE.

The Indian rupee strengthened against the US dollar, settling at 89.25 following late-session gains that complemented the overall market optimism.

Market observers noted, “While the underlying sentiment stays positive, near-term volatility may continue due to unresolved trade negotiations and upcoming economic data releases.”

(With inputs from IANS)