The S&P BSE Sensex rose 484.53 points, or 0.58%, to 83,952.19, while the NSE Nifty 50 rose 124.55 points, or 0.49%, to 25,709.85.
This is how analysts read the market pulse:
The market has continued its upward momentum and hit a fresh 52-week high, largely driven by consumer-oriented stocks, anticipation of improved volume growth and flat profits from banks and signs of easing asset quality stress have boosted overall optimism in the sector, said Vinod Nair, head of research at Geojit Investments. the American banking system.
“Global economic disruptions such as an escalating trade war and slowing economic data have unnerved investors, prompting them to take refuge in gold, which has soared to new record levels. Despite these global uncertainties, resilient domestic economic performance has boosted investor sentiment, leaving Indian equities largely insulated,” Nair said.
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American markets
Wall Street closed higher on Friday as investors weighed President Donald Trump’s latest comments on China and welcomed stronger-than-expected gains from regional banks, helping to allay fears about credit quality.
The S&P 500 rose 0.53% to end at 6,664.01. The Nasdaq Composite closed 0.52% higher at 22,679.98, while the Dow Jones Industrial Average rose 0.52% to 46,190.61.
European markets
European shares fell on Friday as renewed signs of credit pressure at US regional banks rattled investors and fueled demand for safe-haven assets.
The pan-European STOXX 600 index fell almost 1% on the day, but managed a modest gain of 0.4% this week, supported by earlier optimism about corporate earnings and the easing of bond yields.
Technical view
Sentiment around Nifty remains bullish as the index rises above its four-month consolidation range, said Rupak De, Senior Technical Analyst at LKP Securities. He adds that large-cap stocks clearly outperformed on Friday, leaving mid- and small-cap stocks behind – a classic bull market scenario. In the early stages of a classic bull run, large caps usually lead the rally, followed by mid- and small-cap companies.
“Technically, Nifty looks strong for a decent rise from here, and a ‘buy on dips’ strategy could be effective. On the downside, meaningful support is placed at 25,500, while resistance is seen at 25,850-26,000,” De said.
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Most active stocks in terms of turnover
Adani Power (Rs 2,811 crore), RIL (Rs 2,734 crore), Eternal (Rs 2,660 crore), HDFC Bank (Rs 2,525 crore), Infosys (Rs 2,449 crore), ICICI Bank (Rs 2,433 crore) and Waaree Energies (Rs 1,927 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (shares traded: Rs 46.85 crore), YES Bank (shares traded: Rs 19.91 crore), Suzlon Energy (shares traded: Rs 17.36 crore), Adani Power (shares traded: Rs 17.07 crore), Eternal (shares traded: Rs 17.07 crore), Wipro (shares traded: Rs 4.38 crore) and BLS International Services (shares traded: Rs 3.99 crore) were among the most actively traded stocks in terms of volume on NSE.
Stocks that show buying interest
Shares of Whirlpool India, Bombay Burmah, Adani Power, SBFC Finance, Delhivery,
Asian Paints and Bharti Hexacom were among the stocks that witnessed strong buying interest from market participants.
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52 Week High
More than 156 stocks hit their 52-week highs today, while 126 stocks fell to their 52-week lows. Nestle India, Maruti Suzuki and SBI were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that witnessed significant selling pressure were Infosys, HCL Tech, Eternal, Tech Mahindra, Tata Steel, Power Grid and L&T.
Sentiment gauge bearish
Market sentiment was bearish. Of the 4,326 shares traded on the BSE on Friday, 2,527 shares saw a decline, 1,641 rose, while 158 shares remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)
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