Indian equity markets rebounded sharply on Friday, clawing back a substantial portion of the previous session’s losses as bargain buying and improving global cues lifted sentiment. The BSE Sensex and Nifty 50 rose more than 1% at their intraday highs, with gains extending across the session.
The Nifty 50 rose 288.65 points, or 1.30%, to close at 22,520.45, while the Sensex gained 879.09 points, or 1.23%, to settle at 72,472.33.
Buying interest extended to the broader market, with the Nifty Midcap 100 and Nifty Smallcap 100 indices advancing 1.56% and 0.54%, respectively.
On the sectoral front, the Nifty IT index led the gains, rising 3%. The Nifty FMCG, Nifty PSU Bank, Nifty Private Bank, Nifty Realty and Nifty Financial Services indices, along with several other sectoral indices, gained between 1% and 2%.
Market breadth also turned positive, with 2,182 of the 3,684 stocks traded on the NSE closing in the green. Meanwhile, 1,393 stocks ended in the red, while 108 remained unchanged.
ALSO READ: Why did market rise today? Sensex jumps over 800 points, Nifty closes above 22,500. 6 key factors behind D-Street rebound
Here are today’s top gainers on the Nifty
Here are today’s top gainers on the Sensex
Here are today’s top losers on the Nifty
Here are today’s top losers on the Sensex
Nifty 50 closed higher, extending its recovery as buying interest emerged at lower levels throughout the session. The index rebounded from the 22,300 zone and moved above 22,500, signalling an improvement in near-term sentiment. According to Ponmudi R, CEO of Enrich Money, the immediate support is placed at 22,450, followed by 22,300, while resistance is seen around 22,600. A sustained breakout above 22,600, he believes, could extend the recovery toward 22,800.
Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
