Stock market today: The Indian stock market ended in the positive territory on Friday, with gains led by banking heavyweights, including ICICI Bank, HDFC Bank, and Axis Bank.
Market benchmarks remained in positive territory during the session, but gains were capped by elevated crude oil prices and rising concerns about inflation, which could lead to monetary tightening.
The Sensex ended at 75,415.35, up 232 points, or 0.31%, while the Nifty 50 settled at 23,719.30, up 65 points, or 0.27%.
Mid and small-cap segments underperformed as the BSE 150 Midcap index inched up by 0.11%, while the BSE 250 Smallcap index dropped 0.26%.
Trent, Axis Bank, ICICI Bank, and Asian Paints ended as the top gainers in the Sensex index, while Sun Pharma, ITC, and Power Grid ended as the top losers in the index.
Among the sectors on the NSE, Bank Nifty jumped 1.15%, while the Financial Services index rose by 1.17%. The Private Bank index clocked a gain of 1.49%, while the PSU Bank index climbed by 0.22%.
On the other hand, Nifty Healthcare (down 1.52%), Media (down 1.47%), and Pharma (down 1.27%) ended significantly lower.
Oil price benchmark Brent Crude jumped more than 2% to trade above the $105 per barrel due to persisting uncertainty over a potential US-Iran peace deal. Despite several diplomatic efforts, both sides have failed to resolve the key bones of contention.
The Indian rupee, however, jumped 63 paise to close at 95.73 per dollar.
“Domestic markets traded with a mild positive bias, supported by buying at lower levels and moderately constructive global cues, expecting easing tensions in the Middle East. Globally, the AI investment theme remained the primary driver, while domestically, financial stocks led the gains, with selective interest in autos and consumption,” Vinod Nair, Head of Research, Geojit Investments, noted.
“The market is in a buy-on-dips and sell-on-rallies pattern. A sustained uptrend will likely require geopolitical stability and softer oil prices, which would strengthen macro conditions and improve FII sentiment, especially as corporates head into a weak Q1FY27,” said Nair.
Nifty 50 technical view
The Nifty 50 has been trading range-bound, without any clear direction, over the last 4–5 sessions. Experts say a decisive breakout from this range is essential for the next leg of the rally or correction to unfold.
Rupak De, Senior Technical Analyst at LKP Securities, highlighted that although the RSI has entered a positive crossover, it remains largely flat on the daily timeframe, indicating a lack of strong momentum.
“On the downside, immediate support is placed at 23,600, below which the index may drift towards 23,400. A breach below 23,400 could trigger a sharper correction in the market. On the higher side, a decisive move above 23,800 may induce a fresh directional upmove in the short term,” said De.
Sudeep Shah, the head of technical and derivatives research at SBI Securities, said the immediate resistance for Nifty is in the 23,870 – 23,900 zone.
“Any sustainable move above this zone could result in Nifty extending its pullback towards 24,050, followed by 24,200 in the short term. On the downside, the immediate support for Nifty is placed in the 23,570 – 23,550 zone,” said Shah.
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Disclaimer: This story is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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