The week wrapped up on an optimistic chord for Indian equities, with both benchmark indices opening in the green on Friday, led by a robust performance from the IT pack. Nifty 50 rose 82 points to 24,852, and BSE Sensex gained 255 points to settle at 81,450 in the initial half-hour, buoyed by selective buying.
Frontline IT names like Wipro, TCS, and Infosys jumped 2-3%, igniting the Nifty IT index by 1.9%. This revival follows profit-taking earlier in the week, with fresh inflows chasing value after attractive dips. Banking and financials provided additional support, offsetting minor drags from realty and autos.
Trading volumes swelled 15% over average, indicating conviction behind the upmove. Midcaps outperformed slightly, up 0.8%, as investors hunted growth stories. The rupee’s mild appreciation against the dollar further aided sentiment.
Contributing factors range from upbeat Nasdaq closes to domestic factors like steady GST collections and infra spending pledges. Brokerages raised FY25 IT growth forecasts citing cloud migration deals. Still, global headwinds like Middle East tensions warrant caution.
Market participants now focus on maintaining intraday gains amid derivative expiry shadows. A decisive move past 24,900 on Nifty might unleash upside potential toward 25,200. As bulls and bears jostle, this green Friday underscores the market’s underlying strength heading into a busy earnings season.