Mumbai
Indian equity markets ended higher on Friday, breaking a two-day losing streak, supported by positive cues from global markets. Gains in IT, pharmaceutical and metal stocks helped the key domestic benchmarks, the Sensex and Nifty, rise by up to 0.43 percent.The 30-share BSE Sensex gained 330.92 points, or 0.43 percent, to close at 77,264.51. Meanwhile, the NSE Nifty 50 rose 84.80 points, or 0.35 percent, to settle at 24,175.65.During the session, the Sensex opened at 77,128.05, up 194.46 points, or 0.25 percent, from its previous close of 76,933.59. It touched an intraday high of 77,357.97, gaining 424.38 points, or 0.55 percent, while its lowest level of the day was 76,988.22.The Nifty 50 opened at 24,122.60, up 31.75 points, or 0.13 percent, from its previous close of 24,090.85. It touched a high of 24,188.30, gaining around 0.40 percent during the day, while its intraday low stood at 24,076.85.In the broader market, the Nifty Midcap and Nifty Smallcap indices gained 0.05 percent and 0.20 percent, respectively.Among sectors, the Nifty IT index emerged as the top performer, rising a strong 3.51 percent. The Nifty Metal, Nifty Healthcare, Nifty Pharma, Nifty Media and Nifty PSU Bank indices also closed higher. On the other hand, the Nifty Chemicals, Nifty Cement, Nifty FMCG, Nifty Financial Services and Nifty Auto indices ended lower.Among the Nifty 50 constituents, TCS, Tech Mahindra, Infosys, HCLTech and Wipro recorded the biggest gains and featured among the top performers of the day. ICICI Bank, Shriram Finance, ITC and UltraTech Cement were among the biggest losers.A market expert said that the Indian stock market showed signs of recovery on Friday after declining for two consecutive sessions. Buying in IT stocks and some positive signals from global markets supported the gains in the Sensex and Nifty.However, market sentiment remained cautious due to elevated crude oil prices, US bond yields and uncertainty over the Federal Reserve's policy outlook ahead of its speech at Jackson Hole.The expert further noted that the sharp volatility witnessed during the Closing Auction Session (CAS) on Thursday, which coincided with the monthly expiry, has also made investors more watchful of late-session movements.The expert said that market volatility is likely to remain elevated in the coming sessions. Global cues, crude oil prices and institutional flows will play a crucial role in determining the market's next direction.
