Sensex ends marginally lower, Nifty gains 0.33 pc as broader markets outperform

Indian equity markets finished on a mixed note on Friday, with benchmark indexes trading within a narrow band for most of the session.

The Sensex fell 19.63 points, or 0.03 per cent, to settle at 74,294.96, while the Nifty climbed 75.80 points, or 0.33 per cent, to close at 23,346.40.

On the technical front, analysts said the Nifty closed above the 23,300 mark for the first time during the ongoing recovery move.

“Holding above this level may take the rebound toward 23,500-23,600, with support expected at 23,200 and 23,000,” market observers said.

“A stronger technical setup, coupled with softer crude oil prices, may help the recovery gather momentum next week, but the index needs to remain above 23,300 with wider market participation,” analysts noted.

Investors showed interest in selected heavyweight stocks, with Adani Ports and Special Economic Zone, Adani Enterprises and Bharti Airtel leading gains on the Nifty.

Broader stocks performed better than the benchmark indexes, as the Nifty MidCap index rose 1.24 per cent and the Nifty SmallCap index advanced 1.74 per cent.

Among sectoral indexes, Nifty Metal, Nifty Realty, Nifty Oil and Gas, Nifty Cement and Nifty Chemicals were key gainers. However, the Nifty IT index recorded the steepest decline during the session.

Analysts said benchmark indexes remained range-bound, but stronger performance from mid- and small-cap stocks helped support wider market sentiment.

“Indian equities continued their recovery as easing crude prices and lower global yields improved investor risk appetite, despite ongoing concerns over geopolitical uncertainty,” experts said.

“Sentiment was also boosted by positive global cues after policy decisions from major central banks were largely in line with expectations,” analysts said.