Indian equity markets staged a relief rally in the final trading session of the week on Friday, September 4, as concerns over an imminent US Federal Reserve rate hike eased. Gains, however, remained capped by profit booking at higher levels and persistent geopolitical tensions in the Middle East.
At the close, the NSE Nifty 50 stood at 23,897.70, up 24.25 points, or 0.1%, while the BSE Sensex gained 362.57 points, or 0.48%, to finish at 76,515.43.
Strong NRI deposit inflows provided support to the banking sector, easing pressure on the rupee while tempering concerns over tighter domestic liquidity and interest rates.
Broader markets ended on a mixed note. The Nifty Midcap 100 index declined 0.25%, while the Nifty Smallcap 100 index eked out a gain of 0.22%.
At the sectoral level, metal stocks outperformed, with the Nifty Metal index rising 1.07%. The Nifty Realty index was among the top laggards, declining 0.90%.
Market breadth turned positive, with 2,017 stocks advancing on the NSE against 1,519 declines, while 112 stocks remained unchanged.
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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 remained extremely sideways during the day as traders stayed on the sidelines ahead of the important US non-farm payroll and unemployment data, which could have a significant bearing on the Fed’s rate decision, according to Rupak De, Senior Technical Analyst at LKP Securities
"The short-term trend is likely to remain weak as the index continues to trade below the 50-EMA on the hourly chart. A sell-on-rise sentiment may continue to prevail as long as the index remains below the 24,000–24,200 zone. On the lower end, support is placed at 23,830 and 23,700," De said.
