In a remarkable display of market strength, Indian equity indices closed in the green on Friday, driven by broad-based buying across all segments. The National Stock Exchange (NSE) benchmark Nifty reached an all-time high of 24,861, while the Sensex closed near its record high, surging 1,292 points or 1.62% to 81,332.
The Nifty midcap 100 index and Nifty smallcap 100 index also saw significant gains, rising 1.81% and 0.97%, respectively. Sectoral indices, including Auto, IT, PSU Bank, Fin service, pharma, FMCG, metal, and realty, were among the major gainers. An impressive 29 out of 30 shares in the Sensex closed in the green, with Bharti Airtel, Wipro, and Sun Pharma leading the charge.
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The market’s upward momentum was fueled by impressive Q1 results, according to Shrey Jain, Founder and CEO of SAS Online. “The Indian stock market made a strong comeback, with all sectoral indices attracting significant buying interest,” he noted. Jain anticipates the market to maintain its upward momentum, driven by earnings-driven and stock-specific movements.
The lone loser in the BSE benchmark was Nestle, while the overall market sentiment remained overwhelmingly positive. As the market continues to soar, analysts advise adopting a “buy on dips” strategy to capitalize on the current scenario.
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