Indian equity indices reached historic highs on Friday, with the Sensex, Nifty, and Nifty Bank all closing at record levels.
At the end of trading, the Sensex surged by 1,359 points, or 1.63%, closing at 84,544. The Nifty rose 375 points, or 1.48%, to finish at 25,790, while the Nifty Bank climbed 755 points, or 1.42%, closing at 53,793. Intraday, the benchmarks achieved all-time highs of 84,694 for the Sensex, 25,849 for the Nifty, and 54,066 for the Nifty Bank.
Midcap and smallcap stocks also experienced significant gains, with the Nifty midcap 100 index rising 856 points, or 1.44%, to close at 60,208, and the Nifty smallcap 100 index up 187 points, or 0.98%, at 19,332.
Of the 30 stocks in the Sensex, 26 ended in the green, with notable gainers including Mahindra & Mahindra, JSW Steel, ICICI Bank, L&T, Bharti Airtel, Nestle, HUL, HDFC Bank, Tech Mahindra, Maruti Suzuki, and Kotak Mahindra Bank. In contrast, SBI, IndusInd Bank, TCS, and Bajaj Finance were among the top losers.
Most sectoral indices also closed positively, with significant gains in the auto, IT, financial services, pharma, metals, realty, FMCG, and energy sectors.
Krishna Appala, Senior Research Analyst at Capitalmind Research, attributed the market surge to favorable responses following the Federal Reserve’s recent rate cut. “The Nifty rose 1.2% this week, with the Bank Nifty outperforming at a 2.5% increase and also reaching an all-time high,” he noted.
Appala remarked that the market’s initial reaction followed a typical “buy the rumor, sell the news” pattern but quickly resumed its upward trend, which is encouraging for long-term growth, particularly in sectors such as financials, pharma, and IT.
The Indian equity market opened positively, with the Sensex up 82 points, or 0.10%, at 83,267, and the Nifty gaining 40 points, or 0.16%, at 25,455, by 9:46 AM.
