Mumbai, Oct 10 Indian equity benchmark indices ended higher for the second straight session on Friday, supported by strong buying in pharma and banking stocks.
Gains in select auto and energy shares also helped lift the market sentiment.
The Sensex opened around 100 points lower at 82,075 due to weakness in IT stocks. However, it soon recovered and surged to an intra-day high of 82,654 — up 579 points.
The index finally closed 329 points, or 0.4 per cent higher, at 82,501. Similarly, the Nifty touched a high of 25,331 during the day and settled 104 points, or 0.4 per cent higher, at 25,285.
“The Nifty remained strong on Friday as it broke out of the recent consolidation range. The trend continues to stay positive as it is sustaining above critical moving average,” analysts said.
“The setup looks favourable for a further rise in the short term. Any dip would provide a good opportunity to enter long trades,” they added.
“On the higher end, the Nifty may move towards 25,500–25,550, while on the lower end, support is placed at 25,150. A fall below 25,150 could weaken the trend slightly,” experts added.
Among the major Sensex gainers, SBI rose over 2 per cent, while Maruti Suzuki, Axis Bank, Adani Ports, and Power Grid gained more than 1 per cent each.
On the losing side, Tata Steel slipped 1.5 per cent, and TCS fell around 1 per cent, a day after announcing its Q2 results.
In the broader market, the BSE Midcap index advanced 0.4 per cent, and the Smallcap index gained 0.6 per cent.
Among sectoral indices, BSE Healthcare and Bankex gained up to 1 per cent each, while auto and capital goods indices added around 0.5 per cent.
Meanwhile, shares of textile companies jumped as much as 17 per cent during the day following reports that India and the UK may double their bilateral trade by 2030.
Analysts said that renewed optimism over a potential India–US trade deal before the November deadline and easing geopolitical tensions in the Middle East bolstered investor confidence.
On the domestic front, improving macro indicators — supported by the RBI’s proactive steps to boost credit flow and firm consumption trends driven by GST reforms during the early festive season — strengthened investor confidence and kept sentiment upbeat.
(Auto generated news from IANS Feed. This has not been edited by enewstime desk)
