Stock Markets End Week Higher On IT, FMCG, Bank Gains

Indian stock markets ended the week on a strong note, with key benchmark indices closing higher on Friday, driven by gains in IT, FMCG, banking, and financial stocks.

The Sensex jumped 769.09 points, or 0.95 per cent, to close at 81,721.08. It traded between a high of 81,905.17 and a low of 80,897.00 during the day.

The Nifty also rose, gaining 243.45 points, or 0.99 per cent, to settle at 24,853.15.

“The index has moved higher after finding support at the 21-day EMA. Broadly speaking, the Nifty appears to be consolidating within the range of 24,700–25,000,” said Rupak De of LKP Securities.

He added that the short-term trend remains positive. Momentum may strengthen further above the 25,000 mark.

Markets recouped nearly half of the week’s earlier losses. FMCG and IT stocks led the rebound. Hopes of a record-high dividend from the RBI have also boosted confidence in fiscal consolidation, said analysts.

Broader markets joined the rally. The Nifty Midcap100 rose 0.64 per cent, while the Nifty Smallcap100 gained 0.80 per cent.

On the Sensex, only one stock — Sun Pharma — closed in the red. It declined 2.14 per cent after reporting a drop in Q4 net profit.

The rest of the stocks ended higher. Top gainers included Eternal, Power Grid, ITC, Bajaj Finserv, and Nestle India, with gains between 1.83 per cent and 3.6 per cent.

Nifty FMCG and Nifty Private Bank led sectoral gains, rising 1.63 per cent and 1.08 per cent, respectively.

Other sectors — IT, financial services, metal, PSU bank, oil and gas, and realty — also ended in the green. Gains were up to 0.95 per cent.

Nifty Pharma and Healthcare were the only sectors that declined. Nifty Pharma fell by 0.41 per cent, while Healthcare slipped by just 0.01 per cent.

Vinod Nair, Head of Research at Geojit Investments Ltd, said market sentiment improved on optimism over US-India trade talks and strong domestic macro indicators.

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