Indian Share Market wrapped up Friday’s trading session on a firm note, buoyed by sustained buying interest in heavyweight stocks and a strengthening rupee.
Investor confidence strengthened further as ICICI Prudential AMC made a positive stock market debut, lifting sentiment throughout the day.
The Sensex opened with a positive gap of nearly 275 points and steadily extended its gains as the session progressed.
The benchmark index touched an intra-day high of 85,067.50 before settling 447.55 points higher, or 0.5 per cent up, at 84,929 at the closing bell.
The Nifty mirrored the Sensex’s strength, scaling an intra-day high of 25,993 before ending the session at 25,966, a gain of 151 points.
“Given the recent rebound and a breakout above the falling trend line, a Santa rally in the coming week looks possible, which may propel Nifty towards the 26,200 mark. On the downside, key support is positioned around 25,700,” experts stated.
Among Sensex constituents, Bharat Electronics, Power Grid Corporation and Tata Motors Passenger Vehicles emerged as the top gainers, advancing more than 2 per cent each.
Asian Paints, Larsen & Toubro, Bajaj Finance, Bajaj Finserv and Infosys also posted solid gains of around 1 per cent.
On the flip side, HCL Technologies slipped about 1 per cent. Kotak Mahindra Bank, ICICI Bank and TCS were the only other Sensex stocks to close in the red.
The broader market outshone the frontline indices, with the BSE MidCap and SmallCap indices surging around 1.3 per cent each. Market breadth remained firmly positive, with nearly two advancing stocks for every one that declined on the BSE.
Adding to the positive undertone, the Indian rupee ended the session stronger at 89.25 against the US dollar, aided by a late-session surge.
“While sentiment remains constructive, near-term volatility may persist amid uncertainty over trade deal timelines and upcoming macro data releases,” market watchers mentioned.
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