Synopsis : Indian equities traded higher on Friday as IT stocks led the rally, lifting Sensex above 81,600 and Nifty past 25,100. While IT and auto shares boosted sentiment, FMCG and PSU banks dragged.
Indian stock markets witnessed positive momentum on Friday, driven by strong gains in IT and auto stocks. At the headline level, the BSE Sensex rose 115 points or 0.14% to 81,664, while the NSE Nifty50 advanced 52 points or 0.21% to 25,058.
IT shares were the star performers, with Infosys gaining 1.6%, followed by TCS, Tech Mahindra, and HCL Tech. The rally also saw support from Tata Motors, Maruti Suzuki, BEL, L&T, Tata Steel, and Axis Bank, which were among the top gainers of the day.
Broader markets mirrored the uptrend, with the Nifty MidCap index rising 0.46% and the Nifty SmallCap index up 0.33%. Sector-wise, Nifty IT was the top gainer, adding 0.74%, while FMCG stocks weighed down the market, with the Nifty FMCG index slipping 0.24%.
On the IPO front, multiple issues saw key developments today. In the main board category, Urban Co. IPO, Dev Accelerator IPO, and Shringar House of Mangalsutra IPO closed for subscription. Meanwhile, on the SME segment, the basis of allotment for Taurian MPS, Karbonsteel Engineering, Nilachal Carbo Metalicks, and Krupalu Metals IPOs was finalized. Additionally, shares of Sharvaya Metals, Vigor Plast India, and Austere Systems made their stock market debut.
With IT driving the rally and auto stocks adding further strength, analysts suggest that the short-term market outlook remains constructive, although profit-booking in FMCG and PSU banks could weigh on overall momentum.
Disclaimer : This article is for informational purposes only and does not constitute financial or investment advice. Readers are advised to consult with a professional financial advisor before making any investment decisions.
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