Indian benchmark indices opened with a gap-up and extended their gains throughout the session, closing near the day’s high on Friday with Nifty reclaiming gains and closing above the crucial 24,200 mark, supported by broad-based buying interest.
Improved investor sentiment was aided by easing geopolitical tensions and a continued decline in crude oil prices, which strengthened the overall market outlook. At close, the Nifty 50 gained 1.02 per cent or 244.10 points to settle at 24,206.90, while the Sensex advanced 1.08 per cent or 827.57 points to close at 77,569.39.
On the sectoral front, Nifty PSU Bank and Realty emerged as the top-performing sectors, witnessing strong buying interest throughout the session. In contrast, Media and FMCG ended marginally lower, while all other major sectoral indices closed in positive territory, reflecting broad-based market strength.
The broader market outperformed the benchmark indices and continued its strong momentum. The Nifty Midcap 100 index gained 1.40 per cent to close at a record high, while the Nifty Smallcap 100 index advanced 1.49 per cent, highlighting robust participation and sustained buying interest across the broader market.
In terms of outlook, the Nifty on the weekly chart has formed a high wave candle with small real body and long shadows in either direction highlighting intra-week volatility. The lows of the last four weeks are almost identical around 23,800 levels. The index holding above the same will keep the current uptrend intact. Going ahead, the index is expected to consolidate in the range of 23,800-24,350.
Also read: Sensex gains 653 pts, Nifty gains 161 pts in early trade
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