Positive global cues, strong sectoral performance boost investor sentiment
Analysts attributed the continued rally to steady global cues, expectations of stable corporate earnings, and sustained FII inflows. However, they cautioned that valuations are running high and investors should remain selective in the near term.
BIZ DESK
The Domestic stock markets ended the week on a strong note, with benchmark indices extending their winning streak for the fourth consecutive session. The BSE Sensex climbed 303 points, or 0.36%, to close at 84,059, while the NSE Nifty-50 gained 89 points, or 0.35%, to finish at 25,638 — both setting new record closing highs.
Broader markets also maintained upward momentum. The BSE Midcap index rose by 0.4%, and the Smallcap index edged up by 0.6%, reflecting broad-based buying interest among investors.
Sensex Movers
Out of the 30 stocks in the Sensex pack, 18 ended in the green.
- Asian Paints led the gainers, rallying over 3.2%
- UltraTech Cement jumped 2.4%
- Power Grid gained 2.1%
On the downside:
- Trent lost 1.4%
- Eicher Motors fell 1.1%
- Tech Mahindra declined 0.9%
Sectoral Trends
The rally was supported by strong performances across sectors:
- Oil & Gas and Services rose 1.2% each
- Power and Commodities gained over 1.1%
- Capital Goods, Utilities, and Industrial Manufacturing also saw modest gains
However, some pockets of weakness persisted:
- Realty shed 1.5%
- Focused IT and IT declined 0.3% and 0.2% respectively
Market Breadth and Technicals
The overall market breadth remained positive:
- 2,251 stocks advanced
- 1,760 declined
- 154 remained unchanged on the BSE
At the NSE, 86 stocks touched their 52-week highs, while 24 hit 52-week lows, signaling strong bullish undertones in several pockets of the market.