The Indian equity markets concluded slightly up on Friday, with the Sensex gaining 187 points to settle at 83,570, and the Nifty rising by 28 points to close at 25,694. Despite initial gains, both indices saw a decline in the afternoon session. The broader markets mirrored this trend, with the Nifty Midcap 100 index slipping by 0.07% and the NSE Smallcap 100 declining by 0.34%.
The Nifty opened the day at 25,696, reaching an intraday high of 25,873 driven by a surge in IT stocks following robust December quarter results. However, profit-taking activities led to a drop to an intraday low of 25,662. Notably, sectors like IT, realty, and banking outperformed, with Nifty IT registering the highest gain at 3.34%, while Nifty Pharma and consumer durables faced declines of 1.30% and 1.15%, respectively.
In the banking sector, the Nifty Bank index surged by around 0.84%, nearing a new record high at 60,082. Analysts attributed the IT sector’s strong performance to increased revenue growth projections and anticipated technology spending. Investor attention also shifted to banking stocks, encouraged by positive early results indicating enhanced asset quality and margins.
Market breadth in the derivatives segment remained slightly positive, with 131 stocks advancing against 82 declines. Analysts anticipate that Q3 FY26 results exceeding expectations may lead to specific stock movements, although foreign institutional selling is likely to persist in the short term.
