Indian equity markets had a strong finish on Friday, with the Nifty and Sensex indices ending higher. The Nifty rose by 0.65% to 24,353.55, while the Sensex gained 0.65% to close at 78,493.54. Analysts noted that the Nifty faces a hurdle at the 50-DMA level of around 24,410, with a breakout potentially leading to further gains towards 24,700.
Top gainers on the Nifty included Hindustan Unilever, Nestle India, JSW Steel, and Power Grid Corporation of India, contributing to the market’s upward momentum. Broader markets outperformed the main indices, with the Nifty MidCap index rising by 1.27% and the Nifty SmallCap index surging by 1.48% by the session’s end.
In terms of sectors, FMCG, oil and gas, and media stocks saw significant gains, with the Nifty FMCG, Nifty Oil and Gas, and Nifty Media sectors performing well. Conversely, the Nifty IT index closed as the worst performer during the session.
Investor sentiment was buoyed by reduced geopolitical tensions, as President Donald Trump expressed hopes for a resolution in the Iran conflict. Additionally, a 10-day ceasefire agreement between Lebanon and Israel was viewed positively for de-escalation. Market experts highlighted the importance of the upcoming US-Iran talks over the weekend in providing further guidance to global and domestic markets.
