CHENNAI: India's benchmark indices, the Sensex and Nifty, experienced a significant rally on Friday, driven by strong performances in IT and FMCG sectors.
The Sensex settled at 81,721.63, up 769.09 points or 0.95 per cent, while the Nifty50 closed at 24,853.15, gaining 243.45 points or 0.99 per cent.
Sectoral Highlights:
Leading the rally on Friday were stocks from the IT and FMCG sectors. ITC, Tech Mahindra, Infosys, and HCL Tech saw notable gains.
The Nifty Pharma index declined by 0.5%, with Sun Pharma being the only laggard, dropping 3.3% due to expectations of lower earnings and softer revenue guidance.
Midcap and Smallcap Indices closed in the green, indicating positive investor sentiment across various market segments.
Individual Stock Movements:
Honasa Consumer: Shares of Honasa Consumer jumped 12%, driven by increased revenue estimates and improved outlook for their new brands.
Outlook:
The market's positive performance reflects strong investor confidence, particularly in the IT and FMCG sectors. However, investors should remain cautious and monitor global economic developments and domestic earnings reports for potential impacts on market trends.