BIZ DESK
Indian equity benchmarks concluded the week’s final trading session on a strong note, marking their fourth consecutive day of gains. Both the Sensex and Nifty closed with modest increases of over 0.3%, buoyed by positive global cues and fresh foreign fund inflows.
The 30-share S&P BSE Sensex advanced 303 points to settle at 84,059, crossing the 84,000 mark for the first time since October 2024. Meanwhile, the National Stock Exchange Nifty-50 gained 89 points, closing at 25,638. Broader market indices also saw positive movement, with the BSE Mid-Cap index adding almost 0.4% and the Small-Cap index rising by over half a per cent.
Out of the 30 companies in the Sensex pack, 18 closed higher. Top gainers included Asian Paints, which jumped over 3%, UltraTech Cement climbing over 2.4%, and Power Grid advancing 2.1%. Conversely, Trent shed over 1.4%, Eternal fell more than 1.1%, and Tech Mahindra dipped over 0.9% among the top laggards.
Across the sectoral indices at the BSE, 16 out of 21 sectors marched upward. Oil and Gas surged 1.2%, Services climbed almost 1.2%, and both Power and Commodities rose over 1.1% each. On the losing side, Realty dipped more than 1.5%, Focused IT slipped over 0.3%, and IT fell more than 0.2%.
The overall market breadth at the BSE remained positive, with 2,251 companies advancing, 1,760 declining, and 154 remaining unchanged. At the National Stock Exchange, 86 companies hit their 52-week high, while 24 touched their 52-week low. The India VIX, a volatility gauge, also settled lower by 1.60% at 12.39 levels.
Crude Oil Prices Decline: Crude oil prices are on track for their biggest weekly decline since March 2023, as fears of supply disruptions from the Iran-Israel conflict have faded following a ceasefire. This has a positive impact on oil marketing, aviation, and paint companies in India.
Gold Prices Dip: Gold prices in India saw a decline, reflecting weakness in global precious metal trends.
IPO Market Activity: Several IPOs are in various stages, with some like Kalpataru and HDB Financial Services seeing good subscription rates.
