Indian benchmark equity indices ended higher for the second consecutive session on Friday, with the Nifty 50 reclaiming the 23,000 mark as buying in information technology and pharmaceutical stocks supported the market despite weak global cues and pressure in broader indices.
The BSE Sensex climbed 308.49 points, or 0.42 per cent, to settle at 74,459.53. The NSE Nifty 50 advanced 116.35 points, or 0.51 per cent, to close at 23,053.10.
The benchmarks recovered from a subdued start, supported by gains in select heavyweight stocks and sustained buying in IT and pharma counters. However, the rally remained concentrated in frontline shares, with midcap and smallcap stocks witnessing selling pressure.
Among sectoral indices, Nifty IT and Nifty Pharma emerged as the key gainers, rising around 2.3 per cent and 1.8 per cent, respectively. Consumer durables, PSU banks, energy and media stocks were among the major laggards.
The broader market remained under pressure, with the Nifty Midcap index declining 0.8 per cent and the Nifty Smallcap index falling 1.8 per cent. Market breadth was also negative, as 1,311 stocks advanced, while 2,862 declined and 170 remained unchanged.
Global developments continued to influence investor sentiment. Asian markets largely traded lower following a technology-led selloff on Wall Street, while concerns over heavy artificial intelligence investments weighed on global technology stocks.
Elevated crude oil prices and geopolitical tensions also remained key concerns for domestic investors. Brent crude traded above USD 116 per barrel, raising concerns over inflation and India’s oil import bill.
In the previous trading session on Thursday, the Sensex had surged 905.01 points, or 1.24 per cent, to close at 74,151.04, while the Nifty 50 gained 237.90 points, or 1.05 per cent, to settle at 22,936.75.
