India’s equity benchmarks extended gains for a second consecutive session on Friday, closing at their highest levels in nearly a month, buoyed by strong buying in pharmaceutical and financial stocks and upbeat sentiment after a robust week for broader indices.
The NSE Nifty 50 climbed 104 points, or 0.41 per cent, to 25,285, after briefly crossing the 25,300 mark during the session, while the S&P BSE Sensex advanced 329 points to 82,501. The Nifty Bank rose 418 points to 56,610, and the Nifty Midcap index added 268 points to 58,697. Market breadth remained positive, with an advance-decline ratio of 3:2.
For the week, Indian equities logged their biggest weekly gain in three months, with all four frontline indices rising nearly 2 per cent, led by capital markets and IT sectors, both up around 5 per cent.
Pharmaceutical stocks spearheaded Friday’s rally after the US Senate cleared the Biosecure Act, a move seen as favourable for Indian drugmakers. Divi’s Laboratories surged 6 per cent, while Laurus Labs and Syngene International gained between 2–4 per cent. Natco Pharma jumped 4 per cent after the Delhi High Court allowed it to sell the spinal muscular atrophy drug Risdiplam in India.
Capital market-linked firms extended their gains, with BSE and CDSL rising 2–3 per cent, while real estate shares advanced on optimism over strong quarterly earnings, Godrej Properties gained 3 per cent.
Among notable movers, Gokaldas Exports rallied 7 per cent after remarks by Prime Minister Narendra Modi and US Treasury Secretary Janet Yellen emphasised India’s growing role in global supply chains.
NTPC Green Energy rose 3 per cent after signing an MoU with the Gujarat government to develop solar parks.
In the auto sector, Maruti Suzuki, Bajaj Auto, and Eicher Motors advanced 1 to 2 per cent on the back of strong vehicle registration data. However, IT stocks underperformed, with Tata Consultancy Services and Tata Elxsi falling 1 to 3 per cent after their September-quarter results disappointed investors.
Metal stocks slipped as the dollar index strengthened, with Hindustan Copper and SAIL among the top losers. Gold financiers, including Manappuram Finance, dropped 3 per cent following a fall in gold prices.
In total, 35 of the 50 Nifty constituents ended the week higher. Max Healthcare, HCLTech, Eternal, and Infosys were among the top gainers, while Tata Motors, Trent, HDFC Life, and Adani Enterprises lagged.
In the midcap segment, BSE, PG Electroplast, Nykaa, Divi’s Labs, and Yes Bank were the standout performers. |
