Equity benchmark indices Sensex and Nifty rebounded sharply by nearly 1 per cent on Friday, driven by buying in heavyweight stocks such as Reliance Industries, HDFC Bank, and ITC. Investor sentiment was further supported by expectations of a record dividend from the Reserve Bank of India (RBI) and easing US treasury yields, traders said.
After a flat start, the 30-share BSE Sensex climbed 769.09 points, or 0.95 per cent, to close at 81,721.08. During the day, it had surged as much as 953.18 points, or 1.17 per cent, to 81,905.17, PTI reported.
On the BSE, 2,361 stocks advanced, 1,589 declined, and 156 remained unchanged.
The NSE Nifty gained 243.45 points, or 0.99 per cent, to settle at 24,853.15.
For the week, the BSE benchmark fell 609.51 points, or 0.74 per cent, while the Nifty declined 166.65 points, or 0.66 per cent.
“The domestic market has recouped nearly half of the week’s losses, supported by gains in FMCG and IT stocks. FMCG benefitted from the early and above-normal monsoon forecast, while IT stocks saw a rebound following a healthy correction,” said Vinod Nair, Head of Research, Geojit Investments Limited.
“Optimism around a potentially record-high dividend from the RBI is boosting hopes for fiscal consolidation, reflected in falling Indian bond yields,” he added.
Among Sensex stocks, Eicher Motors, Power Grid, ITC, Bajaj Finserv, Nestle, Axis Bank, Kotak Mahindra Bank, and Adani Ports were top gainers. Sun Pharma was the sole loser, dropping nearly 2 per cent after reporting a 19 per cent decline in consolidated net profit for the quarter ended March 31, 2025.
The BSE midcap index rose 0.50 per cent, while the smallcap index increased 0.45 per cent.
Sector-wise, FMCG jumped 1.49 per cent, utilities 1.02 per cent, power 1.01 per cent, financial services 0.99 per cent, bankex 0.99 per cent, oil & gas 0.94 per cent, and energy 0.82 per cent.
In Asia, Japan’s Nikkei 225 and Hong Kong’s Hang Seng closed higher, while South Korea’s Kospi and Shanghai’s SSE Composite ended lower. European markets traded higher in mid-session deals, while US markets closed mostly flat overnight on Thursday.
Brent crude, the global oil benchmark, slipped 0.23 per cent to USD 64.29 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,045.36 crore on Thursday, exchange data showed.
“Investor attention is further revolving around US-India trade talks and strong domestic macroeconomic indicators. However, recent FII outflows, driven by rising US bond yields amid concerns over mounting US debt, may weigh on market sentiment,” Nair noted.
On Thursday, the BSE Sensex had dropped 644.64 points, or 0.79 per cent, to 80,951.99, while the Nifty tumbled 203.75 points, or 0.82 per cent, to 24,609.70.
“Markets quickly rebounded after a subdued opening, as short-covering helped benchmark indices stay in positive territory thereafter. The market has been volatile throughout the week, as concerns over US fiscal health due to rising debt and interest rates seen unchanged weighed on sentiment,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
After a flat start, the 30-share BSE Sensex climbed 769.09 points, or 0.95 per cent, to close at 81,721.08. During the day, it had surged as much as 953.18 points, or 1.17 per cent, to 81,905.17, PTI reported.
On the BSE, 2,361 stocks advanced, 1,589 declined, and 156 remained unchanged.
The NSE Nifty gained 243.45 points, or 0.99 per cent, to settle at 24,853.15.
For the week, the BSE benchmark fell 609.51 points, or 0.74 per cent, while the Nifty declined 166.65 points, or 0.66 per cent.
“The domestic market has recouped nearly half of the week’s losses, supported by gains in FMCG and IT stocks. FMCG benefitted from the early and above-normal monsoon forecast, while IT stocks saw a rebound following a healthy correction,” said Vinod Nair, Head of Research, Geojit Investments Limited.
“Optimism around a potentially record-high dividend from the RBI is boosting hopes for fiscal consolidation, reflected in falling Indian bond yields,” he added.
Among Sensex stocks, Eicher Motors, Power Grid, ITC, Bajaj Finserv, Nestle, Axis Bank, Kotak Mahindra Bank, and Adani Ports were top gainers. Sun Pharma was the sole loser, dropping nearly 2 per cent after reporting a 19 per cent decline in consolidated net profit for the quarter ended March 31, 2025.
The BSE midcap index rose 0.50 per cent, while the smallcap index increased 0.45 per cent.
Sector-wise, FMCG jumped 1.49 per cent, utilities 1.02 per cent, power 1.01 per cent, financial services 0.99 per cent, bankex 0.99 per cent, oil & gas 0.94 per cent, and energy 0.82 per cent.
In Asia, Japan’s Nikkei 225 and Hong Kong’s Hang Seng closed higher, while South Korea’s Kospi and Shanghai’s SSE Composite ended lower. European markets traded higher in mid-session deals, while US markets closed mostly flat overnight on Thursday.
Brent crude, the global oil benchmark, slipped 0.23 per cent to USD 64.29 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,045.36 crore on Thursday, exchange data showed.
“Investor attention is further revolving around US-India trade talks and strong domestic macroeconomic indicators. However, recent FII outflows, driven by rising US bond yields amid concerns over mounting US debt, may weigh on market sentiment,” Nair noted.
On Thursday, the BSE Sensex had dropped 644.64 points, or 0.79 per cent, to 80,951.99, while the Nifty tumbled 203.75 points, or 0.82 per cent, to 24,609.70.
“Markets quickly rebounded after a subdued opening, as short-covering helped benchmark indices stay in positive territory thereafter. The market has been volatile throughout the week, as concerns over US fiscal health due to rising debt and interest rates seen unchanged weighed on sentiment,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
You may also like
Arsenal transfer chief leaves club after replacing Edu Gaspar as striker search begins
Manchester fire LIVE: Huge plume of smoke spotted near Trafford Centre
Max Verstappen lifts lid on talks with Toto Wolff and their future plans
Arne Slot explains talks with two of Liverpool's Premier League rivals before taking Reds job
Who is Allison Burroughs? US judge who halted Donald Trump's Harvard foreign student ban
