The S&P BSE Sensex climbed 328.72 points, or 0.40%, to close at 82,500.82, while the NSE Nifty 50 added 103.55 points, or 0.41%, to settle at 25,285.35.
Top movers
On the 30-share Sensex, State Bank of India, Maruti Suzuki, Axis Bank, NTPC and Power Grid led the advance, rising between 1% and 2%. The broader markets also recovered, with midcaps up 0.5% and smallcaps gaining 0.7% on the day.
The Nifty IT index closed flat, while Tata Consultancy Services fell 1.1% after weaker-than-expected September quarter results. Still, IT stocks rose 4.9% this week, the best-performing sector, helped by stronger-than-expected revenue growth from TCS.
Financials rose 1.6% this week, supported by the Reserve Bank of India’s recent credit reforms and improved credit growth prospects.
Among individual movers, Tata Elxsi fell 3% after a decline in quarterly profit.
Both the Nifty 50 and Sensex rose around 1.6% this week, their strongest performance in three months.
Expert views
Indian shares closed higher, led by strong gains in banking and pharmaceutical stocks, and investor sentiment improved after the government invited private sector professionals to head the State Bank of India, said Vinod Nair, head of research at Geojit Investments. He added that this marks a broader policy shift towards allowing private participation in public sector companies, aimed at improving efficiency and governance.
“Pharma stocks rose as the US revived the Biosecure Act aimed at cutting biotech ties with foreign flagged companies, especially from China, giving a strong boost to Indian CDMOs. With earnings season underway, investors are closely watching quarterly earnings for clues on the market’s direction,” Nair said.
Global markets
Global markets took a breather on Friday after a record week, with stock and gold prices falling, while the dollar was on track for its strongest week in more than a year, amid sharp falls in the yen and euro.
European shares opened subdued as traders looked ahead to political developments in France, where President Emmanuel Macron is under increasing pressure to resolve the ongoing crisis. The pan-European STOXX 600 held steady at 571 points, on track for a third consecutive weekly gain, while Paris’s CAC 40 rose 0.3% alongside a modest rebound in the euro, which remains its weakest week since July.
U.S. stock futures held steady ahead of the start of third-quarter earnings season next week. In Asia, Chinese shares fell 1.4% after Beijing tightened export controls on rare earths ahead of planned talks between Presidents Donald Trump and Xi Jinping.
Gold hovered around $4,000 an ounce after briefly retreating from record highs, while silver traded above $50, extending this year’s outsized gains.
Rough impact
Oil prices fell on Friday, extending the previous session’s 1.6% decline, as risk premia faded following an agreement between Israel and Hamas on the first phase of a plan to end the conflict in Gaza.
Brent crude futures fell 66 cents, or 1%, to $64.56 a barrel at 10:16 GMT, while U.S. West Texas Intermediate fell 61 cents, or 1%, to $60.90.
Rupee vs dollar
The Indian rupee rose slightly on Friday, retreating slightly from its lows after hovering near it for much of the week, as steady central bank intervention fueled interbank dollar selling. The rupee was trading at 88.6850 per US dollar, compared to 88.7825 in the previous session, marking a weekly gain of 0.1%.
The dollar index, meanwhile, rose more than 1.5% this week – its strongest performance since November 2024.
(With input from agencies)
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