Indian equity benchmark indices staged a robust comeback on Friday, closing significantly higher as value buying and short covering lifted investor sentiment following recent corrections. The BSE Sensex surged 879.09 points (1.23%) to settle at 72,472.33, moving within an intraday range of 71,739.49 and 72,669.20. Similarly, the NSE Nifty climbed 288.65 points (1.30%) to close at 22,520.45, while broader market indices also finished firmly in positive territory.
Key Drivers Behind Friday’s Market Recovery
The sharp upward momentum was supported by several favorable domestic and international developments:
Relief in Crude Oil Prices: A pullback in global crude prices provided vital macroeconomic relief, alleviating immediate domestic inflation and import cost concerns.
Easing Geopolitical Tensions: Reduced worries regarding immediate escalations between the US and Iran helped stabilize risk appetite across global and domestic financial markets.
Favorable Sectoral Leadership: The information technology sector led the broader recovery, supported by buying interest across banking, FMCG, and auto counters. The Nifty IT index jumped 3.02%, while the Nifty FMCG index gained 2.20%.
Expert Commentary on Market Resilience
Commenting on the session’s performance, Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, noted:
“IT stocks led the recovery despite the U.S. suspension of major technology companies from the PERM programme. Investors appeared reassured by the clarification that the restriction affects the employment-based green-card process rather than existing H-1B employment, limiting the immediate operational fallout. The rebound can continue if the Nifty converts 22,600 into support and Bank Nifty holds above its weekly average. However, with crude still elevated and global yields restrictive, failure to secure this follow-through would keep the market range-bound and vulnerable to renewed selling.”
Top Gainers, Losers, and Currency Movement
Sensex Gainers: Major constituents like ITC, TCS, Adani Ports, Infosys, and HCL Tech led the benchmark gains, with ITC surging 4.78%.
Top Laggard: Reliance Industries was the sole major laggard among Sensex heavyweights, slipping 0.55%.
Rupee Appreciation: The Indian rupee strengthened against the US dollar, snapping a three-day losing streak in tandem with broader Asian peers.