Nifty, Sensex end higher, trim weekly losses as IT, FMCG stocks rally

Indian equities rebounded strongly on Friday, with benchmark indices rising nearly 1%, led by gains in IT and FMCG stocks, helping trim losses from a weak start to the week.

The BSE Sensex ended 769 points higher at 81,721, while the NSE Nifty rose 243 points to close at 24,853. The Nifty Bank index gained 457 points to 55,398 and the Nifty Midcap 100 climbed 363 points to 56,688.

Buying was broad-based with 48 of 50 Nifty stocks closing in the green. Sectorally, all indices except pharma and healthcare ended higher, with IT stocks rebounding after Thursday’s losses. Persistent Systems rose 2%, while ITC gained over 2% following a mixed set of Q4 results.

Sun Pharma fell 3% after reporting a weak Q4, dragged by softness in its US generics business. Honasa Consumer hit the upper circuit and jumped 20% on the back of strong quarterly earnings.

Metro Brands added 2% after reporting a 24.3% rise in EBITDA and margin expansion to 30.7%. GMR Airports and CONCOR each declined around 2% following their Q4 results.

Despite Friday’s rally, Indian markets posted negative returns for the week, with both the Sensex and Nifty down nearly 1% each. Thirty-five Nifty stocks ended the week in the red, with Grasim, Maruti Suzuki, Mahindra & Mahindra, Eternal, and Siun Pharma among the top laggards.

On the flip side, BEL, HDFC Life, Tata Steel, Bajaj Auto, and Jio Financial Services led the weekly gainers. In the midcap segment, Strides Pharma, Delhivery, Angel One, and Solar Industries posted strong gains.

Market breadth on Friday remained positive, with the advance-decline ratio at 2:1, indicating broader market strength.