Indian stock markets ended the week on a strong note, with benchmark indices recording solid gains as lower crude oil prices improved investor confidence and eased concerns over global inflation.
The Nifty climbed 2.59 per cent during the week and rose 0.27 per cent on Friday to close at 24,383. The Sensex gained 166 points, or 0.21 per cent, to settle at 78,094, taking its weekly advance to 2.68 per cent.
Large-cap stocks led the recovery, while broader markets also finished higher.
Among sectoral indices, metal and automobile shares delivered the strongest gains, supported by softer energy prices and improving global sentiment.
Technology stocks came under pressure towards the end of the week after global chipmakers rebounded, but attractive valuations helped the sector finish the week in positive territory.
Market analysts said the decline in crude oil prices reduced inflation concerns and boosted overall sentiment. They noted that the US Federal Reserve kept interest rates unchanged as expected but maintained a hawkish stance, indicating it could continue with restrictive monetary policy if inflation does not move closer to its target.
The Indian rupee also strengthened during the week as the unwinding of crowded global artificial intelligence trades improved prospects for foreign investment in India’s equity market.
Domestic factors also supported the rally. Strong Index of Industrial Production (IIP) data, better monsoon conditions and encouraging corporate earnings reinforced investor confidence.
The Nifty Midcap100 gained 2.10 per cent during the week, while the Nifty Smallcap100 advanced 2.46 per cent.
Market participants expect the Reserve Bank of India’s upcoming monetary policy decision and Purchasing Managers’ Index (PMI) data to provide fresh signals on economic growth and inflation.
Investors will also closely track US labour market data for further direction.
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