Friday's Rally Helps Sensex, Nifty Snap Two-Week Losing Streak: Market Wrap
On a weekly basis, the Nifty 50 ended 1.59% higher, recording the best weekly gains since late September.
(Image of bull and bear's bronze sculptors in Frankfurt, Germany, is used for representation purpose. Source: Kristian Peetz/Envato)
The NSE Nifty 50 and BSE Sensex recorded the best session in over five months on Friday after ending with over 2% gain. The surge helped the Nifty 50 post its best week in nearly two months.
The Nifty 50 ended 557.35 points or 2.39% higher at 23,907.25, and the Sensex closed 1,961.32 points or 2.54% higher at 79,117.11.
The benchmark indices witnessed a sharp rise post 1:30 p.m. The Nifty 50 rose as much as 2.6% to 23,956.10, and the Sensex jumped 2.67% to 79,218,19. It's the highest intraday jump since June 5.
Gains across Asia and Europe supported India's large–cap gauges' upward trajectory. Most share indices in the Asia–Pacific ended higher, except Hong Kong and Mainland China's stock gauges. The CS 300 and Hang Seng indices ended 3.10% and 1.89% down respectively.
European share indices rose on Friday as traders brushed off disappointing Germany's GDP data and UK's lower–than–expected retail sales data.
India's fear gauge saw a big swing during Friday's session. Right after open, the NSE Nifty India Volatility Index jumped 16.76% to 18.76. Advancing into the session, the index plunged 20.25%. It ended 0.67% higher at 16.10.
"Despite global challenges, India's long-term growth story remains compelling," Krishna Appala, senior research analyst at Capitalmind Research, said. "Investors should focus on sectors aligned with structural themes such as urbanisation, infrastructure, and consumption growth. Strategic portfolio adjustments, disciplined investing and a long-term perspective are critical to navigating the current environment."
Sensex ended 1,961.32 points or 2.54% higher at 79,117.11.
The Nifty 50 ended 524.50 points or 2.25% higher at 23,874.40
The Nifty Bank ended 1.51% higher at 51,135.40.
Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., ITC Ltd. and Tata Consultancy Services Ltd. added to the Nifty 50 index the most.
Bajaj Auto Ltd. weighed on the benchmark index.
Top contribution to the Nifty 50 index.
The broader indices underperformed as the BSE MidCap closed 1.3% higher and the SmallCap was 0.9% up.
All 21 sectoral indices on the BSE closed higher, with IT rising the most.
The market breadth was skewed in favour of the buyers as 2,455 stocks rose, 1,463 fell and 124 remained unchanged on the BSE.
On a weekly basis, the Nifty 50 ended 1.59% higher, recording the best weekly gains since late September. The Sensex ended 1.98% higher.
On the NSE, eight sectors advanced this week, three declined, and one remained flat. The NSE Nifty Realty rose the most, while the NSE Nifty Media declined the most.
Sectoral performance in the week ended on Nov 22.
