Indian equity benchmark indices rallied on Friday, with the Sensex surging 964.58 points, or 1.25 per cent, to close at 78,151.45, while the Nifty gained 261.55 points, or 1.09 per cent, to settle at 24,334.30.
The gains were led by strong buying in private banking, information technology and auto stocks.
Among sectoral indices, the Nifty Private Bank index emerged as the top performer, rising 2.12 per cent. The Nifty IT index advanced 1.75 per cent, while the Nifty Realty and Nifty Auto indices gained 1.34 per cent and 1.24 per cent, respectively.
Healthcare stocks, however, remained under pressure, with the Nifty Pharma and Nifty Healthcare indices ending as the biggest sectoral laggards.
Despite the sharp rise in benchmark indices, the broader market remained weak. The Nifty Midcap 100 index declined 0.41 per cent, while the Nifty Smallcap 100 index slipped 0.21 per cent.
According to market experts, the 24,400 level is the immediate resistance for the Nifty and coincides with the 200-day Exponential Moving Average (EMA).
A sustained breakout above this level could strengthen bullish momentum and push the index towards the 24,500–24,600 range.
On the downside, analysts expect the 24,200 level to serve as immediate support after turning from a key resistance zone, followed by the psychologically significant 24,000 mark.
Market participants said investor sentiment remained resilient despite concerns over elevated AI valuations, geopolitical tensions in the Middle East and volatility in global markets.
Analysts also noted a shift in market momentum towards large-cap stocks, particularly in the IT and banking sectors, supported by optimism surrounding business updates and first-quarter earnings expectations.
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