CHENNAI: Indian equity markets eon Friday ended the session with modest gains, reflecting a cautious but positive investor sentiment. The BSE Sensex rose 224 points to close at 81,207.17, up 0.28 percent, while the NSE Nifty 50 gained 58 points to finish at 24,894.25, a rise of 0.23 percent.
The market rebounded following several sessions of declines, supported by gains in key sectors, particularly banking and financial services. However, the overall market remained selective, with some sectors showing limited movement.
As far as the sector performance is concerned, banking and financial services led the rally, with Nifty Bank and Nifty Financial Services indices rising over 1 percent. while Nifty Metal gained nearly 1.6 percent, driven by strong performances from companies like Tata Steel, Nalco, and Hindalco, and Realty and Auto sectors faced pressure, with Nifty Realty and Nifty Auto indices ending lower.
In the broader market trends, midcap and small-cap stocks showed resilience. The Nifty Midcap 100 index rose 0.25 percent, and the Nifty Smallcap 100 index gained 0.15 percent, indicating selective buying interest in these segments.
Stock analysts say that while the market saw gains, sentiment remained cautious due to ongoing global economic uncertainties and domestic factors. Investors appeared to be consolidating recent gains while awaiting further economic cues.
Although the market on Friday experienced a day of consolidation with benchmark indices ending higher, gains were concentrated in banking, financial services, and metals. While, other sectors remained under pressure. Mid and small-cap stocks showed modest strength, reflecting selective investor interest in a cautious market environment.