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The S&P BSE Sensex surged 484.53 points, or 0.58%, to close at 83,952.19, while the NSE Nifty 50 rose 124.55 points, or 0.49%, to 25,709.85.
Here’s how analysts read the market pulse:
The market has continued its upward momentum, reaching a new 52-week high, largely driven by consumption-oriented stocks, anticipating improved volume growth and in line earnings from banks and signs of easing asset quality stress have bolstered overall industry optimism, said Vinod Nair, Head of Research at Geojit Investments, adding that the IT index has faced pressure due to concerns over discretionary spending and rising asset quality risks in the U.S. banking system.
“Global economic disruptions like escalating trade war and slowing economic data have made investors jittery, prompting them to seek refuge in gold, which has surged to a new all-time high. Despite these global uncertainties, the resilient domestic economic performance has bolstered investor sentiment, keeping Indian equities largely insulated,” said Nair.
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US markets
Wall Street closed higher on Friday as investors weighed President Donald Trump’s latest comments on China and welcomed stronger-than-expected earnings from regional banks that helped ease fears over credit quality.
The S&P 500 rose 0.53% to finish at 6,664.01. The Nasdaq Composite added 0.52% to close at 22,679.98, and the Dow Jones Industrial Average advanced 0.52% to 46,190.61.
European Markets
European stocks slipped on Friday as renewed signs of credit strain among U.S. regional banks rattled investors and spurred demand for safe-haven assets.
The pan-European STOXX 600 index fell nearly 1% on the day but managed to notch a modest 0.4% gain for the week, supported by earlier optimism over corporate earnings and easing bond yields.
Tech View
The sentiment around Nifty remains upbeat as the index moved above its four-month consolidation range, said Rupak De, Senior Technical Analyst at LKP Securities, adding that on Friday, large-cap stocks clearly outperformed, leaving behind mid- and small-cap stocks — a classic bull market scenario. In the early phase of a classic bull run, large caps usually lead the rally, followed by mid and small-cap companies.
“Technically, Nifty looks strong for a decent upside from here, and a “buy on dips” strategy might prove effective. On the lower end, meaningful support is placed at 25,500, while resistance is seen at 25,850–26,000,” said De.
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Most active stocks in terms of turnover
Adani Power (Rs 2,811 crore), RIL (Rs 2,734 crore), Eternal (Rs 2,660 crore), HDFC Bank (Rs 2,525 crore), Infosys (Rs 2,449 crore), ICICI Bank (Rs 2,433 crore) and Waaree Energies (Rs 1,927 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 46.85 crore), YES Bank (Traded shares: 19.91 crore), Suzlon Energy (Traded shares: 17.36 crore), Adani Power (Traded shares: 17.07 crore), Eternal (Traded shares: 17.07 crore), Wipro (Traded shares: 4.38 crore) and BLS International Services (Traded shares: 3.99 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Whirlpool India, Bombay Burmah, Adani Power, SBFC Finance, Delhivery,
Asian Paints and Bharti Hexacom were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 156 stocks hit their 52 week highs today while 126 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Nestle India, Maruti Suzuki and SBI.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Infosys, HCL Tech, Eternal, Tech Mahindra, Tata Steel, Power Grid and L&T.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,326 stocks that traded on the BSE on Friday, 2,527 stocks witnessed declines, 1,641 saw advances, while 158 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
