Indian equity markets traded strongly higher on Friday, supported by gains in banking and financial stocks, softer crude oil prices, and a recovery in the rupee. Investor sentiment improved despite ongoing global uncertainty linked to tensions in the Middle East.
The BSE Sensex climbed more than 500 points during the session, while the Nifty 50 crossed the 23,800 mark. Market momentum remained positive throughout the day, mainly driven by buying in heavyweight private banking stocks.
Among the top gainers, Axis Bank rose over 2.5%, while ICICI Bank gained more than 2%. Shares of Bajaj Finance and HDFC Bank also moved higher, helping financial indices outperform broader markets.
Sector-wise, banking and financial services emerged as the strongest performers of the day, with analysts pointing to stable earnings expectations and continued investor confidence in large-cap financial stocks.
Other notable gainers included Trent and Asian Paints. However, some information technology and defensive stocks remained under pressure. Shares of Tata Consultancy Services and Infosys slipped slightly, while ITC also traded lower.
Crude oil prices, although still elevated, cooled marginally from recent highs after hopes of possible diplomatic talks between the United States and Iran improved global sentiment. Brent crude and WTI crude both remained above key levels, but easing fears around immediate supply disruptions offered some relief to markets.
Lower oil prices are generally seen as positive for India, which depends heavily on crude imports. A decline in energy costs can help reduce inflationary pressure and support the country’s currency.
The rupee also strengthened after reported intervention by the Reserve Bank of India in the foreign exchange market. Reports suggested the central bank sold billions of dollars through state-run banks to stabilise the currency amid volatility.
A firmer rupee helped improve investor confidence and eased concerns over imported inflation, especially at a time when global commodity prices remain volatile.
Broader markets traded with moderate gains. Midcap and smallcap indices edged higher, while sectors such as auto, FMCG, and oil & gas also remained in positive territory. However, media and healthcare stocks witnessed some selling pressure.
Meanwhile, India VIX, commonly known as the market’s fear gauge, remained elevated, indicating that investors are still cautious due to ongoing geopolitical tensions and uncertainty in global markets.
Originally published on 24×7-news.com.
