NEW DELHI: Buoyed by festive sentiments and healthy Q2 earnings reported by India Inc, India’s equity market rallied for the third straight session on Friday with the benchmark indices – BSE Sensex and the NSE Nifty - hitting their 52-week highs during the trading session. The Sensex hit its 52-week high of 84,172, while the Nifty 50 rose to the 52-week high of 25,781.50 in intraday deals.
Following mild profit booking, the Sensex ended 485 points or 0.58% higher at 83,952.19, while the Nifty 50 settled 125 points or 0.49 percent higher at 25,709.85. The two indices are now just 2 percent away from their all-time highs of 85,978.25 and 26,277.35 which they hit on September 27 last year.
In the past three sessions, the Sensex has risen by over 1,900 points or 2.3 percent, while the Nifty 50 has advanced 2.2 percent. Investors have added about Rs 6.5 lakh crore during this run as the m-cap of all BSE-listed firms rose from Rs 460.50 lakh crore to nearly Rs 467 lakh crore.
"The market has continued its upward momentum, reaching a new 52-week high, largely driven by consumption-oriented stocks, anticipating improved volume growth. Inline earnings from banks and signs of easing asset quality stress have bolstered overall industry optimism,” said Vinod Nair, Head of Research, Geojit Investments.
The broader market, however, took a breather after a strong run-up, with Nifty Midcap 100 slipping 0.57 percent and Nifty Small-cap 100 marginally down by 0.05 percent, indicating selective profit-taking by investors.
On the sectoral front, FMCG, Healthcare, Pharma, and Auto indices were the major contributors to the rally, showcasing defensive strength and rotation into quality counters. On the flip side, profit booking was witnessed in IT, Media, and Metal stocks, which capped the overall upside.
The IT index has faced pressure due to concerns over discretionary spending and rising asset quality risks in the US banking system.
Nair added that global economic disruptions like escalating trade war and slowing economic data have made investors jittery, prompting them to seek refuge in gold, which has surged to a new all-time high.
Ajit Mishra – SVP, Research, Religare Broking said that the day’s move was supported by multiple factors, notably positive FII inflows and a stronger rupee. After an aggressive selling spree, foreign investors have turned net buyers, encouraged by a benign global interest-rate environment and resilient corporate earnings from leading private banks and consumer-focused majors.
Looking ahead, participants will react to the quarterly results of heavyweights Reliance Industries, HDFC Bank, and ICICI Bank in early trade on Monday, which could dictate market direction. “Technically, the Nifty’s prevailing positive tone remains intact, with the next targets seen at 26,000, followed by new lifetime highs. However, given the recent underperformance in the broader market, traders are advised to focus on index heavyweights and larger midcaps for long trades," stated Mishra.
In the Nifty50 pack, shares of Wipro fell by more than 5% after the IT major reported a subdued 1.13% YoY profit growth in the second quarter of FY26. The company’s consolidated net profit came at Rs 3,262.4 crore in Q2FY26, compared to Rs 3,226 crore in Q2FY25. Infosys shares cracked over 2 percent even as brokerages gave bullish views on the stock following the firm’s better-than-expected Q2 FY26 results. The IT giant reported a 13.2 percent year-on-year rise in July-September consolidated net profit to Rs 7,364 crore.
