Sensex rises 308 points to 74,459 and Nifty gains 116 points to 23,053 as IT and pharma stocks lead gains, while mid-cap and small-cap indices decline.
Indian equity benchmark indices ended higher for the second consecutive session on Friday, supported by buying interest in information technology and pharmaceutical stocks. However, weakness in broader markets limited the overall market gains.
The BSE Sensex advanced 308.49 points, or 0.42 per cent, to close at 74,459.53. The NSE Nifty 50 gained 116.35 points, or 0.51 per cent, settling at 23,053.10.
Technology stocks emerged as the key drivers of Friday’s rally, with heavyweight IT companies attracting fresh buying interest. Pharmaceutical shares also witnessed demand, supported by encouraging earnings and defensive investment interest.
Market sentiment improved amid a shift in global investment trends following the unwinding of crowded artificial intelligence-linked trades. This rotation supported domestic technology stocks and helped Indian equities outperform several Asian markets during the session.
Among the Nifty constituents, Trent, InterGlobe Aviation and Infosys were among the leading gainers.
Despite gains in the benchmark indices, broader markets remained under pressure. The Nifty MidCap 100 declined 0.93 per cent, while the Nifty SmallCap 100 dropped 1.85 per cent.
Sectoral performance was mixed. The Nifty IT index emerged as the best-performing sector, while pharmaceutical stocks also contributed to the market's positive momentum. In contrast, the Nifty Consumer Durables index recorded the steepest decline among sectoral indices.
Market experts observed that large-cap stocks showed relative resilience, supported by selective buying in IT shares and demand for pharmaceutical and healthcare stocks.
From a technical perspective, analysts said the Nifty had broken out of a period of consolidation and closed above the crucial 22,800 level, reclaiming its 20-day moving average (20-DMA).
On the three-hour chart, a symmetrical triangle pattern is developing. A decisive move above 23,250 would be required to confirm the breakout, analysts said.
The short-term outlook remains positive as long as the index sustains above 22,800. Traders may consider booking partial profits near 23,250 while maintaining remaining long positions with a trailing stop-loss at 22,950, according to market watchers.
The next directional move will depend on the Nifty's ability to sustain above key support levels and break through the immediate resistance zone.
