Indian equity markets, Nifty closed the week on a strong note, with benchmarks touching fresh all-time highs, fuelled by robust gains in the banking and auto sectors.
The Nifty 50 surged 1.05 per cent over the week and rose 0.70 per cent on Friday to close at 26,328. Meanwhile, the Sensex added 760 points, or 0.67 per cent, to finish at 85,762, marking a weekly gain of 0.89 per cent.
Bank Nifty maintained its strong performance, scaling fresh record highs above the 60,200 mark. Analysts attributed investor interest in PSU banks to improving asset quality and expectations of accelerated credit growth.
The auto sector also witnessed strong momentum, supported by robust December sales that indicate a broader uptick in economic activity during the festive quarter.
Additionally, sectoral rotation in utilities attracted investor attention amid hopes of rising industrial demand.
Mixed Trends Across Other Sectors
Conversely, the FMCG index fell 4 per cent for the week following the government’s announcement of higher excise duty on cigarettes.
Broader market indices outperformed the benchmarks, with the Nifty Midcap100 rising 1.74 per cent and the Nifty Smallcap100 edging up 0.77 per cent.
Precious metals continued to attract investor interest, driven by trade disparities, supply constraints, geopolitical tensions, rate cut expectations, and persistent FII outflows, which tested near-term risk appetite.
Market analysts said that if Nifty sustains above 26,300, it could accelerate toward 26,500, with potential to reach 26,700 on strong follow-through. Bank Nifty is expected to continue outperforming the broader index in the near term.
Key indicators for investors include upcoming US payroll and unemployment data, which may influence global market direction.
Experts suggest that Indian markets may trade within a steady range as participants await clearer earnings-led triggers and progress on the India-US trade deal.
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