Benchmark equity indices Sensex and Nifty extended their gains for the third straight trading session on Friday, supported by a sharp rally in Bajaj Finance shares, sustained foreign institutional buying, and positive global market cues.
The 30-share BSE Sensex advanced 166.49 points, or 0.21 per cent, to close at 78,094.64, its highest closing level in more than three weeks. Of the 30 constituent stocks, 16 ended in the green while 14 finished lower. During intraday trade, the benchmark surged as much as 344.10 points, or 0.44 per cent, to touch 78,272.25.
The broader NSE Nifty also continued its upward momentum, gaining 66.45 points, or 0.27 per cent, to settle at a three-week high of 24,383.60. Bajaj Finance emerged as the top performer among Sensex stocks, soaring 8.11 per cent after the company reported a strong financial performance for the June quarter of FY27. The non-banking financial company posted a 28 per cent year-on-year increase in consolidated profit after tax (PAT) to Rs 6,081 crore, driven by healthy growth in core income and improved asset quality.
Other major gainers in the Sensex pack included Bajaj Finserv, Mahindra & Mahindra, Adani Ports, Tata Steel, Reliance Industries, Bharat Electronics and Titan, all of which contributed to the market’s positive close.
On the other hand, information technology stocks witnessed profit booking after their recent rally. Tata Consultancy Services, Infosys and Eternal were among the key laggards, while ITC and InterGlobe Aviation also ended the session in negative territory. Market sentiment remained supported by continued foreign capital inflows. According to exchange data, Foreign Institutional Investors (FIIs) were net buyers of equities worth Rs 3,623.51 crore on Thursday, providing additional support to domestic equities.
Commenting on the market trend, Vinod Nair, Head of Research at Geojit Investments Limited, said the positive momentum continued despite some profit booking at higher levels, as investors remained cautious over elevated global bond yields and concerns about potential interest rate hikes.
He noted that the sustainability of the ongoing market recovery would largely depend on the progress of the corporate earnings season, which has so far delivered results better than market expectations, along with a reduction in global economic and geopolitical risks.
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Nair also observed that the domestic IT sector witnessed selling pressure as investors booked profits following the sector’s recent outperformance.
In the commodities market, Brent crude, the global oil benchmark, rose 0.45 per cent to USD 89.43 per barrel, reflecting firm global energy prices.
Asian markets ended mostly higher, with South Korea’s KOSPI staging a strong rebound and surging 17.91 per cent. Japan’s Nikkei 225, China’s Shanghai SSE Composite Index and Hong Kong’s Hang Seng Index also finished the day in positive territory, mirroring the upbeat sentiment across regional markets.
European markets were trading in the green during afternoon trade, while US equities had ended significantly higher in the previous session, further boosting investor confidence worldwide.
The latest gains follow Thursday’s positive close, when the Sensex climbed 273.55 points, or 0.35 per cent, to finish at 77,928.15, while the Nifty rose 66.95 points, or 0.28 per cent, to settle at 24,317.15, extending the domestic market’s ongoing upward trajectory.
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