Indian Stock Market Ends Friday on a Positive Note Despite Slow Start
The Indian stock market showed resilience on Friday as the benchmark equity indices Sensex and Nifty 50 ended the session in the green, despite a flat and sluggish opening. The major indices were driven by the auto and consumer durable sectors, while IT firms experienced profit booking, leading to a mixed performance in the market.
The Sensex closed higher by 181.87 points or 0.24% at 76,992.77 level, while the Nifty 50 ended at 23,465.60 level, up 66.70 points or 0.29%. The Nifty Midcap 100 and Nifty SmallCap 100 outperformed the benchmark indices, closing 1.05% and 0.8% higher, respectively. The India VIX, the fear gauge index, closed 4.93% lower on Friday.
Vinod Nair, Head of Research at Geojit Financial Services, highlighted a temporary dip in market momentum due to a lack of new triggers following the US Fed’s hawkish remark. Investors are now looking towards the upcoming union budget for guidance, with expectations of a focus on welfare and consumption-driven stocks.
Meanwhile, Asian shares were mixed on Friday, with Japan’s Nikkei 225 rising 0.7% and Australia’s S&P/ASX 200 index declining 0.3%. South Korea’s Kospi and Hong Kong’s Hang Seng index also saw modest gains and losses, respectively.
Overall, the Indian stock market showed resilience and closed the week on a positive note, with investors keeping a close eye on domestic and global developments for future market trends. Stay tuned for more updates on the market performance.
