Indian equity benchmarks extended their gains for a third consecutive trading session on Friday, supported by positive global cues, reduced selling by Foreign Institutional Investors (FIIs), and b buying in the IT, healthcare, and realty sectors.
At the close of trade, the BSE Sensex advanced 261.79 points to settle at 77,763.91, while the NSE Nifty 50 rose 95.15 points to close at 24,270.85. The third straight session of gains also resulted in a notable increase in investors' wealth.
Information technology and healthcare stocks emerged as the biggest gainers during Friday's session. Expectations of a potential interest rate cut in the United States boosted investor sentiment toward Indian IT companies, which derive a significant share of their revenue from the US market. Lower interest rates in the US could increase technology spending and investment, benefiting Indian IT firms.
Among the top gainers were HCL Technologies, Max Healthcare, Bajaj Finserv, Apollo Hospitals, and Dr. Reddy's Laboratories. The IT index gained around 1.7 percent during the session.
Apart from IT, the realty sector also posted robust gains, with the Realty Index rising about 2 percent, making it one of the best-performing sectoral indices of the day. The Pharma and Healthcare indices also advanced by nearly 2 percent. Metal stocks attracted buying interest as well, providing additional support to the broader market.
However, gains were not uniform across sectors. Banking and energy stocks remained under pressure, with the Nifty PSU Bank Index declining around 1.5 percent and the Energy Index falling approximately 1.3 percent by the close.
According to market experts, a combination of domestic and global factors supported the market's upward movement. Expectations of a possible interest rate cut in the United States remained a key driver. If the US central bank reduces interest rates in the future, foreign capital inflows into emerging markets could increase, with India potentially benefiting from such flows.
Softening crude oil prices in the international market were also viewed as a positive factor for India. As the country imports a substantial portion of its energy requirements, lower oil prices could reduce import costs and help contain inflation.
A moderation in selling by Foreign Institutional Investors (FIIs) also supported market sentiment and strengthened domestic investor confidence.
Among individual stocks, Aegis Vopak Terminals gained around 9 percent, while Sumitomo Chemical India rose more than 8 percent during the session. On the other hand, profit booking was seen in several major stocks, including Adani Enterprises, Adani Ports, PB Fintech, Hitachi Energy India, GE Vernova T&D India, and CG Power.
