Equity benchmarks continued to show positive movement during Friday’s afternoon session, bolstered by optimism surrounding easing geopolitical tensions and fresh inflows from foreign funds. A temporary ceasefire between Israel and Lebanon alongside expectations of renewed U.S.-Iran negotiations, coupled with oil prices remaining below $100 per barrel, contributed to heightened investor sentiment.
The BSE Sensex surged by 427 points, while the Nifty 50 gained 210 points from the previous close. As of 12:51 PM, the Sensex was up 220 points, or 0.28 percent, at 78,208.68, and the Nifty 50 rose 65.80 points, or 0.27 percent, to 24,262.55.
Broader market indices outperformed benchmarks, with the midcap index increasing by 0.8 percent and the smallcap index advancing over 1 percent at the time of this report.
Most sector indices traded in the green, led by fast-moving consumer goods (FMCG) stocks. The Nifty FMCG index climbed by 2.5 percent, while oil & gas and financial services stocks saw robust buying interest. However, stocks in IT, consumer durables, pharmaceuticals, and the auto sector lagged.
The Nifty IT index faced pressure, primarily due to a decline in Wipro shares, which dropped nearly 4 percent following disappointing quarterly results and concerns about muted near-term demand stemming from spending cuts among U.S. banking and financial clients.
Among Nifty 50 constituents, notable gains were reported by Hindustan Unilever, Nestlé India, Apollo Hospitals, Tech Mahindra, and Tata Consumer Products. Conversely, laggards included Wipro, HDFC Life Insurance Company, HCL Technologies, Larsen & Toubro, and Sun Pharmaceutical Industries.
Key gainers within the Nifty FMCG index included Emami, Colgate, HUL, Radico, United Spirits, and Dabur. Attention will be focused on shares of Jio Financial, Mastek, Bajaj Consumer Care, and Aditya Birla Money due to their Q4 results.
Market breadth was strong, with 2,164 stocks advancing compared to 927 declining and 107 remaining unchanged out of 3,198 traded on the NSE by midday. A total of 111 stocks, including BSE, Thangamayil, GMDC, and ABB, reached 52-week highs, while only four hit 52-week lows. Additionally, 114 stocks were locked in the upper circuit, while 20 hit the lower circuit.
In terms of trading volume, Wipro led with 554.45 lakh shares, declining 2.76 percent to ₹204.46. Following Wipro was Jio Financial Services with a volume of 243.21 lakh shares, rising 0.39 percent to ₹242.20, and ITC with 240.81 lakh shares traded, gaining 1.14 percent to ₹306.85. HDFC Bank recorded 232.17 lakh shares, up 0.57 percent at ₹800.00, while Eternal Limited saw a trading volume of 212.68 lakh shares, slipping 0.53 percent to ₹251.35.
In the midcap segment, stocks such as Colgate-Palmolive India, Suzlon Energy, Radico Khaitan, Godfrey Phillips India, and KEI Industries surged between 4 and 6 percent. On the downside, Kalyan Jewellers, Groww, Coromandel International, Ashok Leyland, and Swiggy declined between 2 and 5 percent.
Within the smallcap segment, Aegis Logistics, Ircon International, Angel One, and Ola Electric gained between 5 and 8 percent, whereas Afcons Infrastructure, GMDC, Piramal Finance, and Aether Industries dropped by 1 to 4 percent.
On the BSE, stocks like Nava Limited, MMTC, and Waaree Renewable Technologies rallied between 9 and 13 percent, while Electrosteel Castings, Kalyan Jewellers, Afcons Infrastructure, VA Tech Wabag, and Wipro saw declines between 3 and 5 percent.
On the previous day, benchmarks closed marginally lower, with the Sensex dipping by 122.56 points, or 0.16 percent, to 77,988.68, and the Nifty 50 falling by 34.55 points, or 0.14 percent, to 24,196.75.
